Wajax (TSE:WJX) Given New C$36.00 Price Target at Scotiabank

Wajax (TSE:WJX) had its target price lowered by analysts at Scotiabank from C$37.00 to C$36.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 16.54% from the stock’s previous close.

A number of other equities analysts also recently issued reports on WJX. National Bank Financial decreased 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. TD dropped 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. One investment 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 company has an average rating of “Hold” and an average price target of C$34.20.

Wajax Trading Down 0.7%

Shares of TSE WJX traded down C$0.23 during mid-day trading on Tuesday, hitting C$30.89. The stock had a trading volume of 41,064 shares, compared to its average volume of 67,370. The business has a 50 day moving average price of C$29.85 and a two-hundred day moving average price of C$30.13. Wajax has a 1 year low of C$21.80 and a 1 year high of C$34.88. The company has a debt-to-equity ratio of 72.41, a quick ratio of 0.71 and a current ratio of 1.88. The firm has a market cap of C$672.78 million, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.50 and a beta of 0.45.

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 for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. On average, equities analysts anticipate that Wajax will post 3.4850136 EPS for the current fiscal year.

Insider Buying and Selling at Wajax

In other news, Director Jane Craighead acquired 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the acquisition, the director directly owned 11,900 shares in the company, valued at approximately C$343,196. The trade was a 10.19% increase in their ownership of the stock. Also, Director Thomas Malcolm Alford acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of C$29.15 per share, for a total transaction of C$145,750.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at C$145,750. This represents a ∞ increase in their position. In the last ninety days, insiders bought 18,153 shares of company stock worth $535,312. 0.97% of the stock is owned by corporate insiders.

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.