Wajax (TSE:WJX) Hits New 12-Month High – Still a Buy?

Wajax Co. (TSE:WJX) hit a new 52-week high during trading on Wednesday . The company traded as high as C$28.92 and last traded at C$28.88, with a volume of 5292 shares traded. The stock had previously closed at C$28.64.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WJX shares. Scotiabank upped their price objective on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. BMO Capital Markets upped their price target on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, National Bankshares boosted their target price on shares of Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$26.50.

Wajax Trading Up 0.4%

The company has a market cap of C$623.02 million, a price-to-earnings ratio of 13.71, a PEG ratio of 0.50 and a beta of 0.67. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The business’s fifty day simple moving average is C$27.53 and its two-hundred day simple moving average is C$24.97.

Wajax (TSE:WJX) last posted its quarterly earnings data on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$483.15 million during the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%. On average, equities analysts predict that Wajax Co. will post 3.4850136 EPS for the current year.

About Wajax

Wajax Corp is a Canadian distributor of industrial components. The company’s core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.