BMO Capital Markets Lowers Wajax (TSE:WJX) Price Target to C$24.00

Wajax (TSE:WJX) had its target price reduced by BMO Capital Markets from C$28.00 to C$24.00 in a research note issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 12.04% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. TD Securities dropped their price objective on shares of Wajax from C$30.00 to C$24.00 and set a “buy” rating on the stock in a report on Wednesday. National Bankshares set a C$26.00 price target on shares of Wajax and gave the stock a “sector perform” rating in a research note on Friday, September 27th. Scotiabank reduced their price objective on Wajax from C$29.00 to C$24.00 in a research note on Wednesday. Finally, National Bank Financial raised Wajax to a “hold” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$24.50.

Wajax Stock Up 2.0 %

Wajax stock opened at C$21.42 on Wednesday. The firm has a market cap of C$465.46 million, a price-to-earnings ratio of 6.84, a PEG ratio of 0.50 and a beta of 1.80. The company has a current ratio of 1.91, a quick ratio of 0.71 and a debt-to-equity ratio of 103.38. Wajax has a 12 month low of C$20.44 and a 12 month high of C$34.96. The stock has a fifty day simple moving average of C$24.94 and a two-hundred day simple moving average of C$26.00.

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

Wajax Company Profile

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.