Wajax (TSE:WJX) Rating Lowered to Sector Perform at Scotiabank

Wajax (TSE:WJX) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday,BayStreet.CA reports. They currently have a C$22.00 target price on the stock, down from their prior target price of C$24.00. Scotiabank’s price target indicates a potential upside of 24.86% from the stock’s current price.

Other analysts also recently issued research reports about the company. TD Securities upgraded Wajax to a “strong-buy” rating in a research report on Friday, January 17th. BMO Capital Markets cut their price target on shares of Wajax from C$28.00 to C$24.00 in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Wajax currently has a consensus rating of “Hold” and a consensus target price of C$23.50.

Wajax Price Performance

Shares of WJX traded up C$0.32 during mid-day trading on Wednesday, reaching C$17.62. 86,940 shares of the stock traded hands, compared to its average volume of 60,249. The company has a market cap of C$385.08 million, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. Wajax has a 1 year low of C$16.50 and a 1 year high of C$34.70. The firm has a fifty day moving average price of C$20.84 and a 200 day moving average price of C$22.87. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61.

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.