Wajax (TSE:WJX) Sets New 1-Year Low – Here’s Why

Shares of Wajax Co. (TSE:WJX) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$20.32 and last traded at C$20.45, with a volume of 95683 shares. The stock had previously closed at C$20.75.

Analyst Upgrades and Downgrades

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

Wajax Stock Performance

The company has a market capitalization of C$467.20 million, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The company has a debt-to-equity ratio of 103.38, a quick ratio of 0.71 and a current ratio of 1.91. The stock’s fifty day simple moving average is C$22.93 and its 200-day simple moving average is C$24.58.

Wajax Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be paid a $0.35 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 6.51%. Wajax’s payout ratio is currently 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.