BMO Capital Markets Has Lowered Expectations for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its price objective cut by investment analysts at BMO Capital Markets from C$28.00 to C$24.00 in a note issued to investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 14.50% from the company’s current price.

Several other research firms have also recently weighed in on WJX. TD Securities lowered their price objective on shares of Wajax from C$30.00 to C$24.00 in a research report on Wednesday. Scotiabank lowered their price target on Wajax from C$29.00 to C$24.00 in a report on Wednesday. National Bank Financial upgraded shares of Wajax to a “hold” rating in a report on Thursday, September 26th. Finally, National Bankshares set a C$26.00 price target on Wajax and gave the company a “sector perform” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Wajax has a consensus rating of “Hold” and an average target price of C$24.50.

Wajax Stock Up 1.8 %

TSE WJX traded up C$0.37 during trading hours on Wednesday, reaching C$20.96. 109,449 shares of the company’s stock were exchanged, compared to its average volume of 35,057. The company’s 50-day moving average is C$25.11 and its two-hundred day moving average is C$26.12. Wajax has a one year low of C$20.44 and a one year high of C$34.96. The company has a debt-to-equity ratio of 103.38, a quick ratio of 0.71 and a current ratio of 1.91. The company has a market capitalization of C$455.46 million, a price-to-earnings ratio of 6.70, a price-to-earnings-growth 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 business had revenue of C$568.30 million for the quarter. Wajax had a return on equity of 14.06% and a net margin of 3.32%. On average, analysts forecast that Wajax will post 3.4850136 EPS for the current fiscal 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.