Wajax (TSE:WJX) Hits New 52-Week Low - Time to Sell?

Shares of Wajax Co. (TSE:WJX - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$16.40 and last traded at C$16.52, with a volume of 105274 shares trading hands. The stock had previously closed at C$17.34.

Analysts Set New Price Targets

Several analysts recently weighed in on WJX shares. Scotiabank cut shares of Wajax from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from C$24.00 to C$22.00 in a research note on Wednesday, March 5th. TD Securities reduced their price target on Wajax from C$24.00 to C$22.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Finally, National Bankshares decreased their price target on Wajax from C$22.00 to C$20.00 and set a "sector perform" rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$22.00.

Wajax Price Performance

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 business has a 50 day moving average price of C$18.66 and a 200-day moving average price of C$21.40. The company has a market capitalization of C$373.49 million, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.50 and a beta of 1.80.

Wajax Company Profile

Wajax Corp is a Canadian distributor of industrial components. The company's core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes.