Wajax (TSE:WJX) Shares Down 10.8% – What’s Next?

Wajax Co. (TSE:WJX)’s stock price traded down 10.8% on Friday . The company traded as low as C$30.00 and last traded at C$30.55. Approximately 125,679 shares changed hands during mid-day trading, an increase of 86% from the average session volume of 67,661 shares. The stock had previously closed at C$34.26.

Analysts Set New Price Targets

Several equities analysts have issued reports on WJX shares. National Bank Financial dropped their price objective on shares of Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. TD lowered their target price on shares of Wajax from C$35.00 to C$33.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Finally, Scotiabank dropped their price target on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$34.20.

Wajax Price Performance

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 company has a 50-day simple moving average of C$31.49 and a 200-day simple moving average of C$30.99. The stock has a market cap of C$682.59 million, a PE ratio of 11.23, a PEG ratio of 0.50 and a beta of 0.44.

Wajax (TSE:WJX) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share for the quarter. The business had revenue of C$515.67 million for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. Sell-side analysts anticipate that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Insider Transactions at Wajax

In related news, Director Jane Craighead bought 1,100 shares of the company’s stock in a transaction on 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 completion of the acquisition, the director owned 11,900 shares in the company, valued at approximately C$343,196. This represents a 10.19% increase in their position. Company insiders own 0.97% of the company’s stock.

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.