Posted at 7:00 a.m.
With two trading sessions to go in May, Lightspeed is positioned to post the biggest rise of the month in Quebec Inc., while Xebec sits at the other end.
The action of Lightspeed has so far increased by 15% since the 1er May on the Toronto Stock Exchange. Tecsys (+13%) and the National Bank (+8%) are other Quebec titles that stand out this month.
Among the losers, besides Xebec (-61%), Bausch Health (-49%), Hexo (-40%), Coveo (-28%) and 5N More (-25%) are also going through a rather difficult month on the markets.
The chairman of the board of directors of 5N More and a senior executive have just bought blocks of shares in the Montreal supplier of technological materials. Luc Bertrand bought 100,000 shares on May 20 at a unit price of $1.18. Senior Vice President of Specialty Semiconductors, Jurgen Heizmann, for his part, bought on May 23 and 24 a total of 10,000 shares at a unit price of $1.19. Falling back to $1.03, 5N Plus’s stock hit its 52-week low on May 9.
Richelieu Hardware won support from CIBC mid-week. Analyst Hamir Patel now recommends buying the title of the Montreal supplier of renovation products. He believes that with its financial balance sheet, Richelieu is positioned to gain market share on an accelerated basis by making acquisitions in a context resembling that of a recession. The extent of the stock’s decline since its peak in February is unwarranted, in his view.
While the Quebec manufacturer of recreational vehicles BRP will present its performance at the start of the year on Friday, its stock is trading at a historically low valuation multiple, said Cameron Doerksen of National Bank Financial on Wednesday. BRP’s products are discretionary, the company faces supply challenges, and a recession is always possible in the current inflationary environment. This analyst, however, believes that the stock price amply discounts the fears.
The Montreal company Voti Detection, which specializes in x-ray security systems, will offer an update on its options on Tuesday when it reports quarterly results. Its stock tumbled this week after management issued a warning to investors raising doubts about the company’s ability to continue operating due to “current market weakness, combined with rising utility costs.” supplies and shipping”.
Canaccord on Tuesday launched official coverage of the activities ofUni-Select by recommending the purchase of the stock of the Montreal auto parts supplier of Boucherville. Analyst Luke Hannan believes the stock is attractive at its current price and deserves a valuation premium due to the potential for margin expansion, balance sheet and growth potential through acquisitions.
The big boss of Richelieu Hardware has just bought about $100,000 worth of shares in the Montreal supplier of renovation products. Richard Lord bought a block of 2,850 shares at $35 on May 24.
Bomber has just presented its Global 8000, and Scotia analyst Konark Gupta sees a good reason for doing so: to maintain its leading position in the segment of large-cabin, long-range business jets, while that Gulfstream plans to launch its G700 and G800 models on the market within two years. The Global 8000 significantly reduces, in his view, concerns surrounding future competitive risk and in particular that related to Gulfstream.
If he believes that the appointments announced Friday to the senior management of CGI will have a “modest” effect on the Montreal-based technology services company’s accounting strategy and practices, Canaccord analyst Robert Young believes they should lighten the operational burden on CEO George Schindler, who should have more time to devote in particular to acquisitions and long-term planning.
The Quebec titles of Goodfood Market, Coveo, Havision, Gildan, Saputo, TFI, Lassonde, Hexo, Voti, Bitfarms and Bausch Health all hit 52-week lows in Toronto this week.
The New York Stock Exchange and NASDAQ will remain closed on Monday to mark the holiday of Memorial Day in the United States (Remembrance Day).