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

Wajax (TSE:WJX) had its price objective decreased by analysts at TD Securities from C$24.00 to C$22.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 24.86% from the stock’s previous close.

WJX has been the subject of a number of other reports. Scotiabank lowered shares of Wajax from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$24.00 to C$22.00 in a research report on Wednesday. BMO Capital Markets lowered their price target on Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Wajax presently has an average rating of “Hold” and a consensus price target of C$23.50.

Wajax Price Performance

WJX traded up C$0.32 during trading on Wednesday, reaching C$17.62. 86,940 shares of the company were exchanged, compared to its average volume of 60,249. The company’s 50-day moving average is C$20.84 and its two-hundred day moving average is C$22.87. Wajax has a 12-month low of C$16.50 and a 12-month high of C$34.70. The company has a market cap of C$385.08 million, a price-to-earnings ratio of 7.22, a P/E/G ratio of 0.50 and a beta of 1.80. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61.

Wajax Company Profile

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.