Key Points
- Director buying: Wajax director Thomas Malcolm Alford bought 5,000 shares at C$29.15 each, spending C$145,750 and bringing his total stake to 5,000 shares. The transaction suggests insider confidence in the company.
- Stock performance and valuation: Wajax shares were down 1.6% to C$29.13, near the 200-day moving average of C$29.32 and below the 50-day average of C$32.12. The company has a market cap of about C$635.6 million and a P/E ratio of 10.44.
- Analyst view: Analysts currently rate Wajax a Hold overall, with a consensus price target of C$34.40. Recent target changes were mixed, including both increases and cuts from major firms.
Wajax Co. (TSE:WJX - Get Free Report) Director Thomas Malcolm Alford acquired 5,000 shares of Wajax stock in a transaction dated 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 in the company, valued at approximately C$145,750. This represents a ∞ increase in their position.
Wajax Trading Down 1.6%
Wajax 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. The firm has a market cap of C$635.56 million, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59. The firm's 50 day moving average price is C$32.12 and its two-hundred day moving average price is C$29.32. Wajax Co. has a 1 year low of C$21.80 and a 1 year high of C$34.88.
Wajax (TSE:WJX - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported C$0.65 earnings per share (EPS) for the quarter. The company had revenue of C$502.07 million for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%. On average, research analysts predict that Wajax Co. will post 3.4850136 EPS for the current fiscal year.
Wajax News Roundup
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.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. TD Securities increased 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 report on Wednesday, March 4th. Scotiabank lowered their price objective on Wajax from C$38.00 to C$37.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 5th. BMO Capital Markets dropped their target price on shares of Wajax from C$40.00 to C$34.00 and set a "market perform" rating on the stock in a report on Wednesday, March 4th. National Bank Financial cut their price target 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. Finally, TD reduced 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 note 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's stock. According to data from MarketBeat.com, Wajax presently has a consensus rating of "Hold" and an average target price of C$34.40.
Get Our Latest Research Report on WJX
Wajax Company Profile
(
Get Free Report)
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.
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