Montreal clothing manufacturer Gildan is no longer popular on Bay Street.
Analyst Martin Landry of Stifel/GMP withdrew his buy recommendation at the start of the week.
The 10 analysts who officially follow the stock all previously suggested Buy. Gildan has just plunged into crisis after the dismissal of its CEO, a dismissal contested by several institutional shareholders.
Martin Landry believes that recent events at Gildan are fueling uncertainty and creating a distraction for the board and management team.
The Montreal asset manager Fiera Capital recently increased its investment in Tecsys. The Montreal-based supply chain management software provider’s Nov. 30 purchase of shares triggered a requirement to notify authorities that Fiera’s stake in Tecsys increased to 12.8% to begin December .
Fiera, very active in this stock, declared that it held a 10.6% stake in Tecsys in spring 2021. This investment was increased to 12.7% at the start of last year. Participation fell to 11.9% last spring.
Now is the time to re-evaluate the dividend growth model at ECB, according to analyst Maher Yaghi of Scotia. “It is possible to maintain the dividend growth rate at 5%, but this risks putting even more pressure on the balance sheet at a time when the interest expense is increasing and the growth in average revenue per subscriber is less certain . In today’s competitive environment and more debt needs to be refinanced, moving to a lower dividend growth model would likely be more prudent. »
The head of revenue strategy Stingray purchased nearly half a million dollars worth of shares in the Montreal music services provider earlier this week. David Purdy bought 90,000 shares on Monday. Shareholder Denis Sirois, considered an insider, has for his part purchased 15,000 shares of Stingray since the beginning of the month.
Two leaders of Bomber have just sold a total of $3.3 million worth of shares in the Montreal private jet manufacturer. The executive vice-president, after-sales service and strategy, Paul Sislian, sold a block of 36,000 shares on December 12, while the executive vice-president, aircraft sales and Bombardier defense, Jean-Christophe Gallagher, sold a block of 32,000 shares on December 11.
The death of Warren Buffett’s business partner, Charlie Munger, is one of the defining moments of the year in finance. To pay tribute to him, CIBC strategist Ian de Verteuil wanted to identify which companies he could have suggested to Warren Buffett by focusing on the Canadian market. In a report published this week, Ian de Verteuil draws up a list of 20 titles on which we find six Quebec companies: Dollarama, Couche-Tard, Metro, National Bank, CGI And Stella-Jones. Long-term stock performance, profitability history and industry dynamics are factors taken into account in determining the list of stocks capable of generating above-average returns for shareholders over the long term. To please Buffett and Munger, the price must be reasonable, and to this end, five of the 20 titles stand out, but only one from Quebec: Stella-Jones.
An administrator of Couche-Tard sold more than $400,000 worth of shares in the Laval convenience store chain this week. Marie-Josée Lamothe sold a block of 5,350 shares on Tuesday. She has been a board member since 2019.
Eight Quebec stocks are on the list of best investment ideas for 2024 published this week by Desjardins: Couche-Tard, Savaria, Boralex, Stingray, TFI, Bomber, Stella-Jones And AtkinsRealis. This list includes 26 names.
Three leaders of Stella-Jones have just purchased nearly $220,000 worth of shares in the Montreal manufacturer of telephone poles and railway ties. Big boss Éric Vachon bought 1,500 shares on December 15. On the same day, the company’s head of finance, Silvana Travaglini, bought 1,000 shares and Richard Cuddihy, head of human resources, bought 500 shares.
A leader of Transcontinental has just purchased $100,000 worth of shares in the Montreal printer, also a specialist in flexible packaging. The vice-president responsible for printing, Patrick Brayley, purchased a block of 7,700 shares on December 15.
Quebec titles of Hardware store Richelieu, ADF And CGI all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, that of Goodfood Market slipped to a new 52-week low.
The Toronto Stock Exchange will be closed Monday and Tuesday for Christmas Day and Boxing Day.
This section marks a break for the holiday season. Back on January 14.