The big Quebec winner for October on the Toronto Stock Exchange is Dorel.
The title of the Montreal-based furniture and car seat maker doubled during the month, largely due to the announcement of the sale of its bicycle division for nearly $ 1 billion.
Goodfellow (+ 21%), Bellus Health (+ 18%), Cominar (+ 16%) and the CN (+ 12%) are other Quebec titles that had an excellent month in Toronto. At the NASDAQ, the appreciations recorded by Birks (+ 142%), DavidsTea (+ 41%) and Loop (+ 37%) are to be noted.
Among the losers of the month, we especially highlight Neptune (- 17%), Colabor (- 17%), Goodfood (- 14%), Pyrogenesis (- 12%), Stingray (- 10%) and Theratechnologies (- 10%).
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Benoit Poirier, at Desjardins Securities, on Friday passed his recommendation to “buy” on the title of Bomber saying he was impressed with the execution of the company’s recovery plan since the start of the pandemic. “I applaud management’s disciplined approach to the pace of production, which should help improve margins. The risk / reward ratio is attractive enough to recommend the stock. ”
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CIBC on Tuesday withdrew its recommendation to buy the stock of CN. The strong appreciation of the action of the Montreal rail carrier over the past two months is the main factor behind Kevin Chiang’s decision. “Although I continue to believe in the upside potential with the deployment of the company’s strategic plan (aimed in particular at improving margins), the risk / return ratio is better balanced at the current stock price”, underlines the analyst while maintaining his 12 month target at $ 170.
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Mackenzie Financial recently substantially increased the number of shares of BRP held for its clients. The asset manager has just revealed to authorities that it bought more than $ 60 million in shares of the recreational vehicle maker in September. The transactions increased the stake in BRP to over 12.5%. The filed document states that Mackenzie began October with a 12.67% stake in BRP.
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An administrator of Velan has just bought more than $ 260,000 in shares of the Montreal manufacturer of industrial valves. Robert Raich on Monday bought a block of 31,000 shares at a unit price of $ 8.44. These are his first Velan actions. He joined the board of directors this year.
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A value investor, Montreal portfolio manager Philippe Hynes, of the firm Tonus Capital, advocates caution. In the quarterly letter he just sent to his clients, he says profit expectations for the coming quarters for companies are too high given inflationary pressures and supply chain problems. There is little room for maneuver, he said, so there is little chance of seeing big positive surprises. In his opinion, it is more likely to see results below expectations. For the first time in years, he says, no stock met his acquisition criteria in the last quarter.
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The conditional order for 1,000 electric school buses obtained by Lion on behalf of Student Transportation Canada doubles the order book of the Saint-Jérôme heavy vehicle manufacturer. This new order unveiled earlier this week makes delivery forecasts for 2022 more achievable, said analyst Jonathan Lamers, BMO, in a note sent to his customers. In the short term, he says he continues to expect revenues to suffer from component shortages linked to supply issues in the manufacturing sector.
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Bankers promote Sharethrough for more than a week now in order to assess the interest and demand of investors to become shareholders of this Montreal platform for the sale of digital advertising. If this initial public offering goes as planned, the initial share price will be set this week and the start of trading will follow during the week of November 8 at the latest.
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Quebec titles from Logistec, NanoXplore, Cominar, Bank National, CN, WSP and TFI hit a 52-week high in Toronto this week. In contrast, those of Dialogue, Saputo, Neptune and Hexo have all touched this week a new low of the last 52 weeks on the stock market.