Wajax (TSE:WJX) Trading Down 15.5% – What’s Next?

Wajax Co. (TSE:WJX)’s share price fell 15.5% during mid-day trading on Tuesday . The stock traded as low as C$16.59 and last traded at C$16.60. 64,440 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 52,508 shares. The stock had previously closed at C$19.65.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank lowered their price objective on shares of Wajax from C$29.00 to C$24.00 in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target on shares of Wajax from C$28.00 to C$24.00 in a research report on Wednesday, November 6th. Finally, TD Securities raised shares of Wajax to a “strong-buy” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Wajax currently has an average rating of “Hold” and a consensus price target of C$24.50.

Wajax Stock Performance

The business’s 50 day simple moving average is C$20.84 and its two-hundred day simple moving average is C$22.87. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The firm has a market capitalization of C$375.46 million, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80.

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.