Wajax (TSE:WJX) Hits New 1-Year Low – Here’s What Happened

Shares of Wajax Co. (TSE:WJX) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$20.32 and last traded at C$20.44, with a volume of 86428 shares traded. The stock had previously closed at C$20.95.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WJX. National Bank Financial upgraded shares of Wajax to a “hold” rating in a research note on Thursday, September 26th. BMO Capital Markets reduced their price target on Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. TD Securities dropped their price objective on Wajax from C$30.00 to C$24.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Scotiabank reduced their target price on Wajax from C$29.00 to C$24.00 in a report on Wednesday, November 6th. Finally, National Bankshares set a C$26.00 price target on shares of Wajax and gave the stock a “sector perform” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$24.50.

Wajax Stock 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 has a market capitalization of C$444.16 million, a PE ratio of 6.53, a P/E/G ratio of 0.50 and a beta of 1.80. The stock has a 50-day simple moving average of C$22.04 and a 200 day simple moving average of C$24.22.

Wajax Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Monday, December 16th. Wajax’s dividend payout ratio (DPR) is presently 44.73%.

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.