Insider Buying: Wajax (TSE:WJX) Director Purchases 6,000 Shares of Stock

Wajax Co. (TSE:WJX) Director Terrance Lloyd Mckibbon bought 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of C$29.86 per share, with a total value of C$179,160.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at approximately C$179,160. This trade represents a ∞ increase in their position.

Terrance Lloyd Mckibbon also recently made the following trade(s):

• On Wednesday, May 6th, Terrance Lloyd Mckibbon purchased 300 shares of Wajax stock. The shares were bought at an average cost of C$29.84 per share, for a total transaction of C$8,952.00.
• On Wednesday, May 6th, Terrance Lloyd Mckibbon purchased 400 shares of Wajax stock. The stock was bought at an average price of C$29.81 per share, for a total transaction of C$11,924.00.
• On Wednesday, May 6th, Terrance Lloyd Mckibbon acquired 1,400 shares of Wajax stock. The shares were bought at an average cost of C$29.78 per share, with a total value of C$41,692.00.
• On Wednesday, May 6th, Terrance Lloyd Mckibbon acquired 200 shares of Wajax stock. The shares were bought at an average cost of C$29.77 per share, with a total value of C$5,954.00.
• On Wednesday, May 6th, Terrance Lloyd Mckibbon bought 1,100 shares of Wajax stock. The stock was bought at an average price of C$29.30 per share, for a total transaction of C$32,230.00.

Wajax Stock Performance

Shares of TSE:WJX traded down C$0.39 during trading on Monday, reaching C$29.20. The company had a trading volume of 58,309 shares, compared to its average volume of 64,836. Wajax Co. has a fifty-two week low of C$21.80 and a fifty-two week high of C$34.88. The company has a debt-to-equity ratio of 72.41, a current ratio of 1.88 and a quick ratio of 0.71. The stock’s fifty day moving average price is C$32.21 and its 200 day moving average price is C$29.24. The firm has a market capitalization of C$637.09 million, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59.

Wajax (TSE:WJX) last issued its quarterly earnings results on Monday, May 4th. The company reported C$0.65 earnings per share 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. As a group, equities research analysts predict that Wajax Co. will post 3.4850136 EPS for the current year.

Trending Headlines about Wajax

Here are the key news stories impacting Wajax this week:

• Positive Sentiment: Multiple Wajax directors bought shares over May 6–7, including Thomas Malcolm Alford, Terrance Lloyd Mckibbon, and Jane Craighead, with several incremental purchases at prices around C$29.15–C$29.86 per share. Wajax’s (TSE:WJX) Earnings Seem To Be Promising
• Positive Sentiment: The buying activity suggests insiders may see the stock as undervalued or expect continued strength after the company’s recent earnings report showed C$0.65 EPS on C$502.07 million in revenue. Wajax’s (TSE:WJX) Earnings Seem To Be Promising
• Neutral Sentiment: The market is also digesting broader commentary that Wajax’s earnings appear “promising,” which may reinforce investor interest but does not by itself change the fundamental outlook. Wajax’s (TSE:WJX) Earnings Seem To Be Promising

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. National Bank Financial lowered their target price 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. TD reduced 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. 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 decreased 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 note on Wednesday, March 4th. Finally, TD Securities upped their price objective on Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a 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.com, the company currently has an average rating of “Hold” and a consensus target price of C$34.40.

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.