TD Securities Forecasts Strong Price Appreciation for Wajax (TSE:WJX) Stock

Wajax (TSE:WJX) had its price objective lifted by TD Securities from C$21.00 to C$24.00 in a report released on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on WJX. BMO Capital Markets boosted their price objective on Wajax from C$20.00 to C$22.00 in a research note on Tuesday. Scotiabank boosted their price target on shares of Wajax from C$22.00 to C$23.50 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, National Bankshares reduced their price objective on shares of Wajax from C$22.00 to C$20.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 9th.

Wajax Stock Up 2.0 %

Wajax stock opened at C$22.22 on Wednesday. Wajax has a 52 week low of C$15.55 and a 52 week high of C$27.49. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The stock has a market cap of C$485.61 million, a price-to-earnings ratio of 9.11, a PEG ratio of 0.50 and a beta of 1.80. The company’s 50-day moving average price is C$17.71 and its two-hundred day moving average price is C$20.32.

Wajax Company Profile

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.