Wajax (TSE:WJX) Shares Down 12% – Here’s Why

Wajax Co. (TSE:WJX) shares traded down 12% during mid-day trading on Wednesday . The stock traded as low as C$16.50 and last traded at C$17.30. 315,979 shares were traded during trading, an increase of 429% from the average session volume of 59,744 shares. The stock had previously closed at C$19.65.

Wall Street Analyst Weigh In

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

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 firm has a fifty day simple moving average of C$20.84 and a two-hundred day simple moving average of C$22.87. The firm has a market cap of C$378.08 million, a PE ratio of 7.09, a PEG ratio of 0.50 and a beta of 1.80.

About Wajax

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.