Wajax (TSE:WJX) Issues Quarterly Earnings Results

Wajax (TSE:WJX) issued its quarterly earnings results on Thursday. The company reported C$0.82 earnings per share (EPS) for the quarter, FiscalAI reports. Wajax had a net margin of 2.97% and a return on equity of 11.63%. The firm had revenue of C$515.67 million for the quarter.

Wajax Stock Down 8.5%

Shares of WJX traded down C$2.92 during trading hours on Friday, reaching C$31.34. The stock had a trading volume of 226,891 shares, compared to its average volume of 68,392. The firm has a 50-day simple moving average of C$31.49 and a 200 day simple moving average of C$30.99. Wajax has a 12 month low of C$21.80 and a 12 month high of C$35.00. The company has a current ratio of 1.88, a quick ratio of 0.71 and a debt-to-equity ratio of 72.41. The company has a market capitalization of C$682.59 million, a price-to-earnings ratio of 11.23, a P/E/G ratio of 0.50 and a beta of 0.44.

Insider Buying and Selling

In other Wajax news, Director Jane Craighead acquired 1,100 shares of the stock in a transaction on Tuesday, May 26th. The shares were 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 acquisition, the director owned 11,900 shares in the company, valued at approximately C$343,196. This represents a 10.19% increase in their position. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank decreased their price target on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. National Bank Financial reduced 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, 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. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$34.20.

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.