The wise investor | Buyers at TFI

Every Sunday, we shine the spotlight on elements of financial and stock market news that may be useful to investors, but which might have gone under the radar.




Several members of the TFI board of directors took advantage of the recent decline in the Montreal transportation company’s stock to buy shares.

The title of TFI slipped to $177 in Toronto in early May after hitting a high of $220 on April 10. John Pratt purchased 1132 shares on May 2, Debra Kelly-Ennis purchased 500 shares on May 2, while Diane Giard purchased 1000 shares on April 29.

TFI presented its financial performance at the start of the year on April 25. “The trucking of full loads in the first quarter was a disaster,” said big boss Alain Bédard, commenting on the performance in a conference call with analysts. “Just look at our peers in the United States or Canada. It’s very difficult right now in the truckload market. »

The Quebec company iA Financial Group is now almost unanimous on Bay Street. There are now only one analyst in eight who do not suggest buying, while CIBC has just changed its recommendation. In a note published Thursday, Paul Holden of CIBC said he expects a better year in terms of earnings per share growth and considers the stock market valuation attractive. He points out that the stock has been lagging since the start of the year and that it is trading at one of the lowest valuation multiples compared to its Canadian peers.

This is a great opportunity to take a fresh look at Rogers Sugar, according to Desjardins. The financial performance revealed Thursday by the Montreal producer of sugar and maple products encourages analyst Frédéric Tremblay to change his mind. He now recommends buying the stock. It has just redone its calculations to reflect a more favorable outlook in the sugar sector. His constructive opinion is also supported by the recovery and prospects of the maple sector. “In both segments, management is making the right decisions to ensure solid and profitable growth. The icing on the cake is an attractive valuation and a 6% dividend yield. » Two out of five analysts now recommend buying.

The Bank of Canada must lower its key rate 3 or 4 times by the end of the year, even if the Fed will probably remain on the sidelines until 2025, maintains strategist Sébastien McMahon, at iA Global Asset Management. “It is necessary to allow the Canadian economy to emerge from its slump,” he says in his monthly commentary sent this week.

“This divergence should weigh on the Canadian dollar, but our estimates suggest that the marginal effect is limited. We anticipate the loonie will slide towards 70 cents by the end of 2024, a decline of 3 cents from current prices. » Such a situation would favor the returns on foreign investments held by Canadian investors.

A senior manager of Metro has just made a gross gain of $660,000 by selling shares of the Montreal grocer. Executive Vice President of National Supply Chain and Purchasing Carmen Fortino exercised a total of 21,300 options on May 3 at a strike price of $41.16 and then sold these securities at prices of $72.10 and $72.13.

The stock market slide of the Quebec manufacturer of zero-emission vehicles Lion causes its largest shareholder to adjust the valuation of its investment to reflect the decline in market value. Power Corporation indicated mid-week that it had recorded a non-cash impairment charge of 20 million in the first quarter in connection with Lion. As of the start of the second quarter, in early April, Power’s 34% stake in Lion was worth $148 million. The value of this investment has now fallen to 94 million with the stock market decline observed over the past month and a half.

The chairman of the board of directors of Goodfellow has just purchased shares of the Quebec manufacturer of wood products and distributor of construction materials. Robert Hall purchased a total of 1,000 shares at a unit price of $15 during the sessions of May 2 and 3. He has been chairman of the board for two years.

Quebec titles of Savaria, 5N Plus, ADF Group, Bomber, Power Corporation, National Bank And Dollarama all hit a 52-week high this week on the Toronto Stock Exchange.

On the other hand, those of Yellow Pages And D-Box hit a 52-week low again this week.


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