Insider Buying: Wajax (TSE:WJX) Director Purchases C$145,750.00 in Stock

Wajax Co. (TSE:WJX) Director Thomas Malcolm Alford acquired 5,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of C$29.15 per share, for a total transaction of C$145,750.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately C$145,750. This represents a ∞ increase in their position.

Wajax Trading Down 0.7%

Wajax stock opened at C$28.42 on Thursday. The company’s fifty day simple moving average is C$32.00 and its 200-day simple moving average is C$29.39. The company has a quick ratio of 0.71, a current ratio of 1.88 and a debt-to-equity ratio of 72.41. Wajax Co. has a 12 month low of C$21.80 and a 12 month high of C$34.88. The stock has a market cap of C$620.07 million, a P/E ratio of 10.19, a P/E/G ratio of 0.50 and a beta of 0.59.

Wajax (TSE:WJX) last posted its quarterly earnings results on Monday, May 4th. The company reported C$0.65 EPS for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. The business had revenue of C$502.07 million for the quarter. As a group, sell-side analysts forecast that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WJX. TD Securities boosted their target price on shares of Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. National Bank Financial cut their target price on shares of Wajax from C$37.00 to C$34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. TD cut their target price on shares of Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Scotiabank cut their price objective on shares of Wajax from C$38.00 to C$37.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 5th. Finally, BMO Capital Markets cut their price objective on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$34.40.

Wajax Company Profile

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.