Wajax (TSE:WJX) Reaches New 52-Week Low – Should You Sell?

Wajax Co. (TSE:WJX)’s stock price reached a new 52-week low on Monday . The company 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.

Wall Street Analyst Weigh In

WJX has been the subject of several research analyst reports. Scotiabank reduced their price target on shares of Wajax from C$29.00 to C$24.00 in a research report on Wednesday, November 6th. BMO Capital Markets lowered their price target on Wajax from C$28.00 to C$24.00 in a research note on Wednesday, November 6th. TD Securities decreased their price objective on Wajax from C$30.00 to C$24.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. National Bank Financial upgraded shares of Wajax to a “hold” rating in a research report on Thursday, September 26th. Finally, National Bankshares set a C$26.00 price target on shares of Wajax and gave the stock a “sector perform” rating in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Wajax has an average rating of “Hold” and a consensus price target of C$24.50.

Wajax Trading Up 4.9 %

The company’s 50 day moving average price is C$22.93 and its 200 day moving average price is C$24.58. The firm has a market cap 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 current ratio of 1.91 and a quick ratio of 0.71.

Wajax Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Monday, December 16th. Wajax’s dividend 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.