The stock of Wajax Corp (TSE:WJX) hit a new 52-week high and has $26.22 target or 7.00% above today’s $24.50 share price. The 5 months bullish chart indicates low risk for the $497.75 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $26.22 price target is reached, the company will be worth $34.84 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 8,750 shares traded hands. Wajax Corp (TSE:WJX) has risen 30.75% since April 25, 2016 and is uptrending. It has outperformed by 25.49% the S&P500.
Wajax Corp (TSE:WJX) Ratings Coverage
Out of 4 analysts covering Wajax Corp (TSE:WJX), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $29 is the highest target while $18 is the lowest. The $21.83 average target is -10.90% below today’s ($24.5) stock price. Wajax Corp has been the topic of 14 analyst reports since August 10, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained the shares of WJX in a report on Wednesday, November 2 with “Market Perform” rating. The firm has “Market Perform” rating by Raymond James given on Monday, August 10. The firm has “Buy” rating by TD Securities given on Wednesday, November 2. As per Friday, October 28, the company rating was maintained by Scotia Capital. The company was maintained on Monday, August 10 by Desjardins Securities. The firm has “Outperform” rating given on Wednesday, November 16 by Scotia Capital.
Another recent and important Wajax Corp (TSE:WJX) news was published by Theglobeandmail.com which published an article titled: “Wajax investors should dig in for the long haul” on March 31, 2014.
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 $497.75 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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