The stock of Wajax Corp (TSE:WJX) hit a new 52-week high and has $34.02 target or 68.00% above today’s $20.25 share price. The 8 months bullish chart indicates low risk for the $451.03 million company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $34.02 price target is reached, the company will be worth $306.70 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 27,990 shares traded hands. Wajax Corp (TSE:WJX) has risen 12.96% since April 1, 2016 and is uptrending. It has outperformed by 11.00% the S&P500.
Wajax Corp (TSE:WJX) Ratings Coverage
Out of 4 analysts covering Wajax Corp (TSE:WJX), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $29 is the highest target while $18 is the lowest. The $20.50 average target is 1.23% above today’s ($20.25) stock price. Wajax Corp has been the topic of 12 analyst reports since August 10, 2015 according to StockzIntelligence Inc. TD Securities upgraded it to “Buy” rating and $21 target price in Wednesday, November 2 report. Scotia Capital maintained Wajax Corp (TSE:WJX) rating on Friday, October 28. Scotia Capital has “Sector Perform” rating and $18 price target. The stock of Wajax Corp (TSE:WJX) earned “Market Perform” rating by BMO Capital Markets on Wednesday, November 2. The stock of Wajax Corp (TSE:WJX) has “Market Perform” rating given on Monday, August 10 by Raymond James. The firm has “Buy” rating given on Monday, August 10 by Desjardins Securities.
Another recent and important Wajax Corp (TSE:WJX) news was published by Reuters.com which published an article titled: “BRIEF-Wajax Corp Q3 earnings per share C$0.38” on November 01, 2016.
Wajax Corporation is a Canada-based distributor engaged in the sale and service support of mobile equipment, power systems and industrial components. The company has a market cap of $451.03 million. The Company’s Equipment business is engaged in distribution, rental, modification and servicing of mobile equipment from manufacturers. It currently has negative earnings. The Company’s Power Systems business is engaged in distribution, sales, service of heavy-duty engines, transmissions, and power generation product sales, service, and rentals across Canada.
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