Wajax (TSE:WJX) Downgraded to “Sector Perform” Rating by Scotiabank

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

WJX has been the topic of several other reports. TD Securities raised Wajax to a “strong-buy” rating in a research note on Friday, January 17th. BMO Capital Markets reduced their target price on Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$23.50.

Wajax Trading Up 1.8 %

Shares of TSE WJX traded up C$0.32 during mid-day trading on Wednesday, hitting C$17.62. The stock had a trading volume of 86,940 shares, compared to its average volume of 60,249. The business has a 50 day moving average price of C$20.84 and a two-hundred day moving average price of C$22.87. Wajax has a 1 year low of C$16.50 and a 1 year high of C$34.70. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10. The firm has a market cap of C$385.08 million, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80.

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.