Scotiabank Downgrades Wajax (TSE:WJX) to Sector Perform

Scotiabank downgraded shares of Wajax (TSE:WJX - Free Report) from an outperform rating to a sector perform rating in a research note published on Wednesday morning, Marketbeat.com reports. Scotiabank currently has C$22.00 price objective on the stock, down from their prior price objective of C$24.00.

Several other equities analysts have also recently weighed in on the company. TD Securities upgraded Wajax to a "strong-buy" rating in a research note on Friday, January 17th. BMO Capital Markets dropped their price objective on Wajax from C$28.00 to C$24.00 in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$23.50.

Wajax Stock Up 3.3 %

TSE:WJX traded up C$0.60 during trading hours on Wednesday, hitting C$18.82. 116,415 shares of the company traded hands, compared to its average volume of 65,069. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The firm's 50-day simple moving average is C$20.57 and its 200-day simple moving average is C$22.68. Wajax has a one year low of C$16.50 and a one year high of C$34.70. The company has a market cap of C$411.30 million, a PE ratio of 7.71, a PEG ratio of 0.50 and a beta of 1.80.

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About Wajax

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.