BMO Capital Markets Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its price target cut by investment analysts at BMO Capital Markets from C$28.00 to C$24.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 12.04% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Scotiabank cut their price target on Wajax from C$29.00 to C$24.00 in a research report on Wednesday. National Bankshares set a C$26.00 price target on Wajax and gave the company a “sector perform” rating in a research report on Friday, September 27th. TD Securities dropped their price objective on shares of Wajax from C$30.00 to C$24.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, National Bank Financial raised shares of Wajax to a “hold” rating in a report on Thursday, September 26th. 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, Wajax currently has an average rating of “Hold” and a consensus target price of C$24.50.

Wajax Price Performance

Shares of WJX stock opened at C$21.42 on Wednesday. Wajax has a fifty-two week low of C$20.44 and a fifty-two week 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 firm has a market capitalization of C$465.46 million, a price-to-earnings ratio of 6.84, a PEG ratio of 0.50 and a beta of 1.80. The stock’s 50-day simple moving average is C$24.94 and its 200-day simple moving average is C$26.00.

Wajax (TSE:WJX) last posted its quarterly earnings results 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%. As a group, equities analysts forecast that Wajax will post 3.4850136 earnings per share for the current fiscal year.

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.