Topic: How To Invest

Power Growth Investor Hotline – Friday, January 17, 2020

Article Excerpt

WAJAX CORP., $15.85, is a buy. Through their shares, investors benefit from the company’s (symbol WJX on Toronto) sales and servicing of cranes, forklifts and other heavy equipment. Wajax also provides related parts and systems such as ball bearings, hoses, diesel engines and transmissions. The company’s customers are spread across the resources, construction, manufacturing and transportation industries. Wajax has just bought Calgary-based NorthPoint Technical Service for $18 million. NorthPoint was formed in 2018 as a Canada-wide electro-mechanical services provider and serves a broad range of resource and industrial customers. It specializes in the repair of rotating industrial equipment, including motors, generators, gearboxes, switchgear, transformers, pumps, fans and turbines. NorthPoint operates nine branches across Canada and employs approximately 177 people. Its branches are located in Grand Prairie and Calgary, Alberta; Regina, Saskatchewan; Winnipeg, Manitoba; Kirkland Lake, Sudbury and Sarnia, Ontario; Moncton, New Brunswick; and St. John’s, Newfoundland. The firm is expecting to report revenue of about $49.2 million for 2019. To help you put that…

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