Wajax (TSE:WJX) Reaches New 12-Month Low – Should You Sell?

Wajax Co. (TSE:WJX)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$20.32 and last traded at C$20.44, with a volume of 86428 shares traded. The stock had previously closed at C$20.95.

Wall Street Analysts Forecast Growth

WJX has been the subject of a number of research reports. National Bankshares set a C$26.00 price target on shares of Wajax and gave the company a “sector perform” rating in a research report on Friday, September 27th. Scotiabank dropped their price objective on shares of Wajax from C$29.00 to C$24.00 in a research note on Wednesday, November 6th. BMO Capital Markets dropped their price objective on shares of Wajax from C$28.00 to C$24.00 in a research note on Wednesday, November 6th. National Bank Financial upgraded shares of Wajax to a “hold” rating in a research note on Thursday, September 26th. Finally, 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 research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$24.50.

Wajax Stock Down 2.2 %

The company has a current ratio of 1.91, a quick ratio of 0.71 and a debt-to-equity ratio of 103.38. The stock has a market capitalization of C$439.38 million, a P/E ratio of 6.46, a P/E/G ratio of 0.50 and a beta of 1.80. The stock’s 50 day simple moving average is C$21.87 and its 200 day simple moving average is C$24.15.

Wajax Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were given a $0.35 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.92%. Wajax’s dividend payout ratio is presently 44.73%.

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.