Wajax (TSE:WJX) Downgraded by Scotiabank to Sector Perform

Scotiabank cut shares of Wajax (TSE:WJX) from an outperform rating to a sector perform rating in a report released on Wednesday,BayStreet.CA reports. Scotiabank currently has C$22.00 target price on the stock, down from their prior target price of C$24.00.

WJX has been the topic of several other reports. TD Securities upgraded Wajax to a “strong-buy” rating in a research report on Friday, January 17th. BMO Capital Markets lowered their price target on Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Wajax has an average rating of “Hold” and an average target price of C$23.50.

Wajax Price Performance

TSE WJX opened at C$17.60 on Wednesday. The company has a 50-day moving average price of C$20.76 and a two-hundred day moving average price of C$22.82. The stock has a market cap of C$384.64 million, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. Wajax has a 52 week low of C$16.50 and a 52 week high of C$34.70.

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.