Wajax (TSE:WJX) Announces Quarterly Earnings Results

Wajax (TSE:WJX) released its quarterly earnings data on Thursday. The company reported C$0.82 EPS for the quarter, FiscalAI reports. The business had revenue of C$515.67 million for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%.

Wajax Price Performance

Shares of Wajax stock traded down C$0.60 on Thursday, hitting C$34.26. The company’s stock had a trading volume of 135,733 shares, compared to its average volume of 67,335. The company has a market capitalization of C$746.18 million, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.50 and a beta of 0.44. Wajax has a 1 year low of C$21.80 and a 1 year high of C$35.00. The company has a debt-to-equity ratio of 72.41, a quick ratio of 0.71 and a current ratio of 1.88. The firm has a fifty day moving average price of C$31.36 and a 200-day moving average price of C$30.94.

Analysts Set New Price Targets

Several equities research analysts have commented on WJX shares. National Bank Financial lowered their price target on shares of Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Scotiabank reduced their price target on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Finally, TD decreased their price target on Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Wajax currently has an average rating of “Hold” and an average target price of C$34.20.

Insider Activity at Wajax

In other Wajax news, Director Jane Craighead acquired 1,100 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the transaction, the director directly owned 11,900 shares of the company’s stock, valued at C$343,196. This represents a 10.19% increase in their ownership of the stock. Insiders purchased 1,853 shares of company stock valued at $53,528 in the last three months. 0.97% of the stock is owned by insiders.

About Wajax

Wajax Corp is a Canadian distributor of industrial components. The company’s core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.