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

Key Points

• Director buying: Wajax director Thomas Malcolm Alford bought 5,000 shares on May 6 at an average price of C$29.15 per share, worth about C$145,750.
• Stock slipped: Wajax shares were down about 1.3% to C$29.20 in Monday trading, on volume slightly below average.
• Mixed outlook from analysts and earnings: The company recently reported C$0.65 EPS on C$502.07 million in revenue, while analysts mostly rate the stock Hold with a consensus target price of C$34.40.

Wajax Co. (TSE:WJX - Get Free Report) Director Thomas Malcolm Alford acquired 5,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 5,000 shares in the company, valued at approximately C$145,750. This represents a ∞ increase in their ownership of the stock.

Wajax Stock Down 1.3%

Shares of WJX traded down C$0.39 during mid-day trading on Monday, hitting C$29.20. 58,309 shares of the company traded hands, compared to its average volume of 64,836. The company has a market capitalization of C$637.09 million, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59. 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 business has a 50 day moving average of C$32.21 and a 200 day moving average of C$29.24. Wajax Co. has a 1-year low of C$21.80 and a 1-year high of C$34.88.

Wajax (TSE:WJX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported C$0.65 earnings per share for the quarter. The firm 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%. Equities research analysts anticipate that Wajax Co. will post 3.4850136 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WJX. TD decreased their target price 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. TD Securities raised their price target on shares of Wajax from C$28.00 to C$34.00 and gave the stock a "hold" rating in a research report on Wednesday, March 4th. BMO Capital Markets reduced their target price on shares of 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. Scotiabank decreased their target price on shares of Wajax from C$38.00 to C$37.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 5th. Finally, National Bank Financial lowered their price target on shares of Wajax from C$37.00 to C$34.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$34.40.

Wajax News Summary

Here are the key news stories impacting Wajax this week:

• Positive Sentiment: Multiple Wajax directors bought shares over May 6–7, including Thomas Malcolm Alford, Terrance Lloyd Mckibbon, and Jane Craighead, with several incremental purchases at prices around C$29.15–C$29.86 per share. Wajax's TSE: WJX Earnings Seem To Be Promising
• Positive Sentiment: The buying activity suggests insiders may see the stock as undervalued or expect continued strength after the company’s recent earnings report showed C$0.65 EPS on C$502.07 million in revenue. Wajax's TSE: WJX Earnings Seem To Be Promising
• Neutral Sentiment: The market is also digesting broader commentary that Wajax’s earnings appear “promising,” which may reinforce investor interest but does not by itself change the fundamental outlook. Wajax's TSE: WJX Earnings Seem To Be Promising

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.

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