Wajax (TSE:WJX) Reaches New 12-Month Low – Should You Sell?

Wajax Co. (TSE:WJX)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$19.44 and last traded at C$20.00, with a volume of 114782 shares trading hands. The stock had previously closed at C$20.80.

Analyst Ratings Changes

A number of analysts recently weighed in on WJX shares. TD Securities upgraded shares of Wajax to a “strong-buy” rating in a research note on Friday, January 17th. BMO Capital Markets dropped their price objective on shares of Wajax from C$28.00 to C$24.00 in a research report on Wednesday, November 6th. Finally, Scotiabank reduced their price objective on shares of Wajax from C$29.00 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 strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$24.50.

Wajax Price Performance

The company has a debt-to-equity ratio of 103.38, a current ratio of 1.91 and a quick ratio of 0.71. The company’s 50 day simple moving average is C$21.68 and its 200 day simple moving average is C$23.62. The company has a market capitalization of C$453.29 million, a PE ratio of 6.66, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80.

Wajax (TSE:WJX) last posted its earnings results on Monday, November 4th. The company reported C$0.43 earnings per share for the quarter, missing the consensus estimate of C$0.83 by C($0.40). Wajax had a net margin of 3.32% and a return on equity of 14.06%. During the same period in the previous year, the company earned $0.93 earnings per share. As a group, sell-side analysts predict that Wajax Co. will post 3.4850136 earnings per share for the current 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.