Insider Buying: Wajax (TSE:WJX) Director Acquires 1,100 Shares of Stock

Wajax Co. (TSE:WJX) Director Jane Craighead purchased 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of C$28.84 per share, with a total value of C$31,724.00. Following the completion of the transaction, the director directly owned 11,900 shares of the company’s stock, valued at C$343,196. The trade was a 10.19% increase in their position.

Jane Craighead also recently made the following trade(s):

• On Tuesday, May 26th, Jane Craighead acquired 650 shares of Wajax stock. The shares were purchased at an average cost of C$28.89 per share, with a total value of C$18,778.50.
• On Thursday, May 7th, Jane Craighead acquired 200 shares of Wajax stock. The shares were purchased at an average cost of C$29.52 per share, with a total value of C$5,904.00.
• On Thursday, May 7th, Jane Craighead acquired 1,000 shares of Wajax stock. The shares were purchased at an average cost of C$29.55 per share, with a total value of C$29,550.00.
• On Thursday, May 7th, Jane Craighead acquired 600 shares of Wajax stock. The shares were purchased at an average cost of C$29.52 per share, with a total value of C$17,712.00.
• On Thursday, May 7th, Jane Craighead acquired 100 shares of Wajax stock. The shares were purchased at an average cost of C$29.56 per share, with a total value of C$2,956.00.

Wajax Stock Performance

TSE WJX traded up C$0.28 on Tuesday, hitting C$28.83. 35,676 shares of the stock traded hands, compared to its average volume of 67,245. The business’s fifty day moving average is C$31.19 and its two-hundred day moving average is C$29.59. Wajax Co. has a 12 month low of C$21.80 and a 12 month high of C$34.88. The firm has a market capitalization of C$627.92 million, a price-to-earnings ratio of 10.33, a PEG ratio of 0.50 and a beta of 0.59. 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 (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 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 analysts anticipate that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WJX. Scotiabank cut their price target on 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. TD Securities raised their price target on Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a report on Wednesday, March 4th. TD cut their price target on Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. 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, BMO Capital Markets cut their price target on Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.