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

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

Wajax Price Performance

Shares of TSE WJX opened at C$28.62 on Wednesday. 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 one year low of C$21.80 and a one year high of C$34.88. The firm has a market capitalization of C$624.43 million, a P/E ratio of 10.26, a PEG ratio of 0.50 and a beta of 0.59. The company’s fifty day moving average is C$32.06 and its two-hundred day moving average is C$29.36.

Wajax (TSE:WJX) last announced its quarterly earnings results on Monday, May 4th. The company reported C$0.65 earnings per share (EPS) for the quarter. The business had revenue of C$502.07 million during the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. Analysts forecast that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Wajax News Summary

Here are the key news stories impacting Wajax this week:

• Positive Sentiment: Multiple Wajax insiders bought shares over the past few days, including directors Thomas Malcolm Alford, Terrance Lloyd Mckibbon, and Jane Craighead, along with insider Tania Sofia Casadinho. The purchases were made around C$29.15-C$29.86 per share and suggest confidence from people closest to the business. Wajax insider buying article
• Positive Sentiment: Several of the buys were meaningful relative to the insiders’ prior holdings, which can be viewed as a bullish signal for investors watching Wajax’s near-term outlook.
• Neutral Sentiment: A recent article, “Wajax’s (TSE:WJX) Earnings Seem To Be Promising,” adds to the view that the company’s earnings picture may be stabilizing. Wajax earnings article
• Neutral Sentiment: Wajax is still trading near its 200-day average, so some of the move may reflect technical consolidation rather than a major new fundamental catalyst.
• Negative Sentiment: Analyst sentiment remains cautious overall, with a consensus “Hold” rating and multiple recent target-price cuts from major firms, which may limit upside enthusiasm.

Analysts Set New Price Targets

WJX has been the topic of a number of research reports. Scotiabank lowered their price target 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. National Bank Financial reduced 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. BMO Capital Markets decreased their target price 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 Securities upped their target price on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. Finally, TD dropped their price target on 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. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.