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

Wajax Co. (TSE:WJX) Director Jane Craighead acquired 1,100 shares of the company’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 purchase, the director directly owned 11,900 shares of the company’s stock, valued at C$343,196. This trade represents 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 acquired 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 acquired 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 acquired 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 acquired 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 acquired at an average cost of C$29.56 per share, with a total value of C$2,956.00.

Wajax Price Performance

TSE:WJX traded up C$0.28 during trading hours on Tuesday, hitting C$28.83. 35,676 shares of the company’s stock traded hands, compared to its average volume of 67,245. The business’s fifty day simple moving average is C$31.19 and its two-hundred day simple moving average is C$29.59. Wajax Co. has a 52 week low of C$21.80 and a 52 week high of C$34.88. 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 firm has a market cap of C$627.92 million, a P/E ratio of 10.33, a P/E/G ratio of 0.50 and a beta of 0.59.

Wajax (TSE:WJX) last released 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 business had revenue of C$502.07 million for the quarter. On average, research analysts anticipate that Wajax Co. will post 3.4850136 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WJX has been the topic of several analyst reports. Scotiabank decreased 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 objective on Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a report on Wednesday, March 4th. TD decreased their price objective on Wajax from C$35.00 to C$33.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. National Bank Financial decreased their price objective 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 Securities lifted 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 analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from 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.