Wajax (TSE:WJX) Director Thomas Malcolm Alford Buys 5,000 Shares of Stock

Wajax Co. (TSE:WJX) Director Thomas Malcolm Alford bought 5,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of C$29.15 per share, with a total value of C$145,750.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at C$145,750. The trade was a ∞ increase in their position.

Wajax Price Performance

WJX stock opened at C$29.13 on Tuesday. The company has a debt-to-equity ratio of 72.41, a quick ratio of 0.71 and a current ratio of 1.88. Wajax Co. has a 1 year low of C$21.80 and a 1 year high of C$34.88. The stock’s 50 day moving average price is C$32.12 and its 200 day moving average price is C$29.32. The firm has a market cap of C$635.56 million, a P/E ratio of 10.44, a PEG ratio of 0.50 and a beta of 0.59.

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

Analyst Ratings Changes

WJX has been the subject of a number of recent analyst reports. Scotiabank lowered their target price on shares of Wajax from C$38.00 to C$37.00 and set a “sector perform” rating for the company in a report on Tuesday, May 5th. BMO Capital Markets reduced their price target on Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. TD decreased their price objective 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. TD Securities lifted their price target on shares of Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a research note on Wednesday, March 4th. Finally, National Bank Financial lowered their price objective on Wajax from C$37.00 to C$34.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$34.40.

Key Headlines Impacting Wajax

Here are the key news stories impacting Wajax this week:

• Positive Sentiment: Multiple insiders signaled confidence in Wajax by buying shares, including directors Thomas Malcolm Alford, Terrance Lloyd Mckibbon, and Jane Craighead, plus insider Tania Sofia Casadinho. These purchases were made around C$29.15-C$29.86 per share and suggest management sees value near current levels.
• Positive Sentiment: The purchases were meaningful in size for several insiders, with some reporting double-digit percentage increases in their holdings. That kind of insider accumulation can be interpreted as a bullish vote of confidence in Wajax’s outlook. Wajax insider transactions source
• Neutral Sentiment: A recent article titled “Wajax’s (TSE:WJX) Earnings Seem To Be Promising” points to improving sentiment around the company’s earnings outlook, which may be helping offset some weakness. Wajax’s (TSE:WJX) Earnings Seem To Be Promising
• Neutral Sentiment: Wajax’s stock has been hovering near its 200-day average, so recent trading may also reflect normal technical consolidation rather than a major new fundamental catalyst.

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.