Wajax (TSE:WJX) Rating Lowered to “Sector Perform” at Scotiabank

Wajax (TSE:WJX) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$22.00 price target on the stock, down from their previous price target of C$24.00. Scotiabank’s price target suggests a potential upside of 20.75% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets lowered their price target on shares of Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. TD Securities raised shares of Wajax to a “strong-buy” rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$23.50.

Wajax Trading Up 3.5 %

TSE:WJX opened at C$18.22 on Wednesday. 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 capitalization of C$398.19 million, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The firm’s 50 day moving average is C$20.68 and its 200 day moving average is C$22.77. Wajax has a 12 month low of C$16.50 and a 12 month high of C$34.70.

About Wajax

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.