Scotiabank Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its target price decreased 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 target points to a potential upside of 12.04% from the stock’s current price.

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

Wajax Trading Up 2.0 %

WJX opened at C$21.42 on Wednesday. The company has a debt-to-equity ratio of 103.38, a current ratio of 1.91 and a quick ratio of 0.71. Wajax has a fifty-two week low of C$20.44 and a fifty-two week high of C$34.96. The company’s 50 day moving average price is C$24.94 and its two-hundred day moving average price is C$26.00. The firm has a market capitalization 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.

Wajax (TSE:WJX) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$1.06 earnings per share 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%. As a group, research analysts predict that Wajax will post 3.4850136 earnings per share for the current year.

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.