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

Wajax (TSE:WJX) had its price objective lowered by equities research analysts at TD Securities from C$30.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 12.04% from the stock’s previous close.

Several other brokerages have also recently issued reports on WJX. National Bankshares set a C$26.00 target price on shares of Wajax and gave the stock a “sector perform” rating in a report on Friday, September 27th. National Bank Financial upgraded Wajax to a “hold” rating in a research report on Thursday, September 26th. BMO Capital Markets decreased their target price on Wajax from C$32.00 to C$30.00 in a report on Wednesday, July 24th. Finally, Scotiabank set a C$29.00 target price on Wajax and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$24.50.

Wajax Price Performance

Shares of TSE:WJX opened at C$21.42 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.91 and a debt-to-equity ratio of 103.38. The firm has a 50-day simple moving average of C$24.94 and a 200 day simple moving average of C$26.00. Wajax has a fifty-two week low of C$20.44 and a fifty-two week high of C$34.96. The company has a market cap of C$465.46 million, a PE ratio of 6.84, a P/E/G ratio of 0.50 and a beta of 1.80.

Wajax (TSE:WJX) last released its quarterly 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 company had revenue of C$568.30 million for the quarter. On average, sell-side analysts anticipate that Wajax will post 3.4850136 EPS 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.