Scotiabank Has Lowered Expectations for Wajax (TSE:WJX) Stock Price

by · The Markets Daily

Wajax (TSE:WJX – Get Free Report) had its price target cut by equities researchers at Scotiabank from C$29.00 to C$24.00 in a report issued on Wednesday, BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 14.50% from the stock’s current price.

A number of other research firms also recently weighed in on WJX. National Bank Financial raised shares of Wajax to a “hold” rating in a research note on Thursday, September 26th. TD Securities reduced their price objective on shares of Wajax from C$30.00 to C$24.00 in a report on Wednesday. National Bankshares set a C$26.00 price target on shares of Wajax and gave the company a “sector perform” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets cut their price target on Wajax from C$32.00 to C$30.00 in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$24.50.

View Our Latest Analysis on WJX

Wajax Stock Up 1.8 %

Shares of WJX stock traded up C$0.37 during mid-day trading on Wednesday, reaching C$20.96. 109,449 shares of the company were exchanged, compared to its average volume of 35,057. The company has a market capitalization of C$455.46 million, a P/E ratio of 6.70, a P/E/G ratio of 0.50 and a beta of 1.80. The business’s 50 day simple moving average is C$25.11 and its 200 day simple moving average is C$26.12. The company has a debt-to-equity ratio of 103.38, a quick ratio of 0.71 and a current ratio of 1.91. Wajax has a fifty-two week low of C$20.44 and a fifty-two week high of C$34.96.

Wajax (TSE:WJX – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported C$1.06 earnings per share for the quarter. Wajax had a return on equity of 14.06% and a net margin of 3.32%. The firm had revenue of C$568.30 million for the quarter. Research analysts predict that Wajax will post 3.4850136 earnings per share for the current year.

Wajax Company Profile

(Get Free Report)

Wajax Corporation provides equipment, parts, and services to construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers compact excavators, dump trucks, excavators, wheel loaders, and wheeled excavators; aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; marine, off and on highway engines, and transmissions; and feller bunchers, felling heads, flail debarkers, forwarders, grinders, harvesting heads, log loaders, mulchers, skidders, track and wheel harvesters, and woodchippers.

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