Wajax (TSE:WJX) Sets New 12-Month High – Here’s What Happened

Wajax Co. (TSE:WJX) reached a new 52-week high during trading on Wednesday . The company traded as high as C$34.90 and last traded at C$34.81, with a volume of 13498 shares traded. The stock had previously closed at C$34.48.

Analyst Ratings Changes

Several equities analysts have issued reports on WJX shares. Scotiabank cut their price objective 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. National Bank Financial decreased their target price on Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, TD lowered their target price on 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 investment 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 currently has a consensus rating of “Hold” and an average target price of C$34.20.

Wajax Price Performance

The company has a quick ratio of 0.71, a current ratio of 1.88 and a debt-to-equity ratio of 72.41. The stock’s 50-day moving average price is C$31.24 and its 200-day moving average price is C$30.90. The company has a market capitalization of C$759.25 million, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 0.50 and a beta of 0.44.

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 net margin of 2.97% and a return on equity of 11.63%. The business had revenue of C$502.07 million during the quarter. Equities research analysts anticipate that Wajax Co. will post 3.4850136 earnings per share for the current year.

Insider Activity at Wajax

In other news, Director Jane Craighead bought 1,100 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of C$28.84 per share, with a total value of C$31,724.00. Following the purchase, the director owned 11,900 shares of the company’s stock, valued at approximately C$343,196. This represents a 10.19% increase in their ownership of the stock. Over the last ninety days, insiders acquired 3,753 shares of company stock valued at $109,650. 0.97% of the stock is currently owned by company insiders.

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.