Wajax (TSE:WJX) Reaches New 12-Month Low – Should You Sell?

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

Wall Street Analyst Weigh In

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

Wajax Price Performance

The company has a quick ratio of 0.71, a current ratio of 1.91 and a debt-to-equity ratio of 103.38. The business has a 50-day moving average price of C$21.87 and a two-hundred day moving average price of C$24.15. The company has a market capitalization of C$439.38 million, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80.

Wajax Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 6.92%. Wajax’s payout ratio is 44.73%.

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.