What’s Propelling Wajax Corp to Increase So Much?

 What's Propelling Wajax Corp to Increase So Much?

The stock of Wajax Corp (TSE:WJX) is a huge mover today! About 24,475 shares traded hands. Wajax Corp (TSE:WJX) has risen 32.13% since April 7, 2016 and is uptrending. It has outperformed by 25.98% the S&P500.
The move comes after 8 months positive chart setup for the $442.24M company. It was reported on Nov, 11 by Barchart.com. We have $56.49 PT which if reached, will make TSE:WJX worth $681.05 million more.

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. Wajax Corp has been the topic of 12 analyst reports since August 10, 2015 according to StockzIntelligence Inc. On Monday, August 10 the stock rating was maintained by Raymond James with “Market Perform”. On Wednesday, November 2 the stock rating was upgraded by TD Securities to “Buy”. The stock has “Sector Perform” rating given by Scotia Capital on Friday, October 28. BMO Capital Markets maintained it with “Market Perform” rating and $18 target price in Wednesday, November 2 report. The firm has “Buy” rating by Desjardins Securities given on Monday, August 10.

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 $442.24 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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