Raymond James Increases Wajax (TSE:WJX) Price Target to C$21.00

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Wajax (TSE:WJX) had its price target hoisted by investment analysts at Raymond James from C$20.00 to C$21.00 in a research note issued on Tuesday, PriceTargets.com reports. The firm presently has a “market perform” rating on the stock. Raymond James’ price objective points to a potential downside of 6.38% from the stock’s previous close.

A number of other brokerages have also issued reports on WJX. Scotiabank lifted their price target on shares of Wajax from C$25.00 to C$26.00 in a research note on Wednesday, March 3rd. TD Securities lifted their price target on shares of Wajax from C$20.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd.

Shares of WJX traded up C$2.14 during mid-day trading on Tuesday, reaching C$22.43. 197,946 shares of the stock traded hands, compared to its average volume of 85,948. The firm has a market cap of C$479.80 million and a price-to-earnings ratio of 14.46. The stock has a fifty day simple moving average of C$19.93 and a 200 day simple moving average of C$18.24. Wajax has a 12-month low of C$7.23 and a 12-month high of C$22.62. The company has a quick ratio of 0.88, a current ratio of 2.34 and a debt-to-equity ratio of 116.46.

Wajax (TSE:WJX) last posted its quarterly earnings data on Monday, March 1st. The company reported C$0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.46 by C$0.01. The firm had revenue of C$381.00 million for the quarter. On average, equities research analysts expect that Wajax will post 2.0999998 earnings per share for the current fiscal year.

About Wajax

Wajax Corporation, an integrated distribution company, provides sales, parts, and services to construction, forestry, mining, industrial/commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers construction and material-handling equipment; industrial products, such as bearings, bulk material handling, filtration, fluid handling, hydraulics, instrumentation, pneumatics, power transmissions, and safety and mill supplies, as well as sealing, belting, lubricants, and hydraulic hoses; cages and partitions, guarding and barriers, lockers, cabinets, workstations, rack accessories and protections, racking, shelving, and storage platforms; power generation solutions; crane and utility equipment, which includes aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; and forestry equipment, such as wood chippers, feller bunchers and heads, flail debarkers, forwarders, grinders, log loaders, skidders, track harvesters, and wheel harvesters.

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