Wajax (TSE:WJX) Reaches New 12-Month High - What's Next?

Key Points

• Wajax shares reached a new 52-week high, trading as high as C$34.90 and closing near that level at C$34.81, up 1.1% on the day.
• Analysts remain cautious: the consensus rating is “Hold” with an average price target of C$34.20, despite one Buy rating and four Hold ratings.
• Wajax reported quarterly earnings of C$0.65 per share on revenue of C$502.07 million, while insiders have purchased 3,753 shares over the past 90 days.

Wajax Co. (TSE:WJX - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as C$34.90 and last traded at C$34.81, with a volume of 13498 shares trading hands. The stock had previously closed at C$34.48.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WJX. TD reduced their price target on shares of Wajax from C$35.00 to C$33.00 and set a "hold" rating for the company in a report on Wednesday, May 6th. National Bank Financial cut their price objective on shares of Wajax from C$37.00 to C$34.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Finally, Scotiabank reduced their target price on shares of Wajax from C$37.00 to C$36.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 7th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$34.20.

Wajax Trading Up 1.1%

The firm has a market capitalization of C$759.25 million, a P/E ratio of 12.49, a PEG ratio of 0.50 and a beta of 0.44. 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 price of C$31.24 and a 200-day moving average price of C$30.90.

Wajax (TSE:WJX - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported C$0.65 earnings per share 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%. Analysts anticipate that Wajax Co. will post 3.4850136 earnings per share for the current year.

Insider Buying and Selling at Wajax

In related news, Director Jane Craighead acquired 1,100 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the purchase, the director owned 11,900 shares in the company, valued at approximately C$343,196. This trade represents a 10.19% increase in their position. In the last 90 days, insiders purchased 3,753 shares of company stock valued at $109,650. Corporate 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.

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