Wajax (TSE:WJX) Announces Earnings Results

Wajax (TSE:WJX) posted its quarterly earnings results on Thursday. The company reported C$0.82 EPS for the quarter, FiscalAI reports. The firm 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%.

Wajax Price Performance

WJX opened at C$34.26 on Friday. The stock’s 50 day simple moving average is C$31.46 and its 200 day simple moving average is C$30.98. The company has a debt-to-equity ratio of 72.41, a current ratio of 1.88 and a quick ratio of 0.71. Wajax has a 1 year low of C$21.80 and a 1 year high of C$35.00. The firm has a market cap of C$746.18 million, a price-to-earnings ratio of 12.28, a PEG ratio of 0.50 and a beta of 0.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Scotiabank cut their price objective 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. National Bank Financial decreased their target price on shares of Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, TD lowered 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 research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$34.20.

Insiders Place Their Bets

In related news, Director Jane Craighead acquired 1,100 shares of the stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the transaction, the director owned 11,900 shares of the company’s stock, valued at C$343,196. This trade represents a 10.19% increase in their position. 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.