The wise investor | The Caisse buys BRP

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




One of BRP’s largest shareholders took advantage of the recent decline in the shares of the Valcourt-based recreational vehicle manufacturer to increase its investment in this company.

The Caisse de dépôt et placement du Québec released millions of dollars last month to purchase additional blocks of shares of BRP.

The stock of the operator of the Ski-Doo brand briefly slipped below $80 in Toronto in early December after BRP management lowered some financial targets at the end of November ahead of the slowdown in demand in the current economic context.

BRP stock has since rebounded to over $90 to start 2024.

The Caisse notably purchased 12,200 BRP shares on December 8 before purchasing other blocks of shares during subsequent sessions. The Caisse purchased a total of 31,500 shares last month, indicates a document filed in recent days with regulatory authorities.

National Bank Financial considers Coveo as a candidate of choice for a strategic acquirer or a private investment firm. In a report published Tuesday to take stock of the technology sector at the start of the year, analyst Richard Tse says he continues to appreciate the stock of the Quebec company specializing in artificial intelligence applied to electronic commerce and suggests buying the stock opportunistically, particularly when the stock price is weak.

Affirming that the outlook for profit margins continues to darken at Richelieu Hardware, National Bank Financial withdrew its buy recommendation on Thursday on the stock of the Montreal distributor of furniture hardware products. Analyst Zachary Evershed came to this decision after reading the year-end financial performance revealed Thursday. The results presented missed the analysts’ target.

Scotia gave a vote of confidence to Saputo mid-week. Analyst George Doumet now recommends buying the shares of the Montreal dairy processor. This expert says he appreciates the current context with the depreciated evaluation while the visibility surrounding the benefits resulting from strategic initiatives has improved somewhat. This expert recognizes that it may take some time to return to historical valuation levels, but judges that the market attributes little or no value to the ongoing optimization efforts.

The Montreal manufacturer of telephone poles and railway ties Stella-Jones finds himself on the short list of six dark horses (term which could be translated as “surprise winner”) for 2024 published Tuesday by the firm Acumen. These are securities considered to have lost investors’ conviction or which remain in the shadows (under the radar).

Acumen believes in particular that Stella-Jones’ financial objectives seem very cautious while demand for electricity poles should continue to be felt.

Besides Stella-Jones, the other five names on the list are Andrew Peller, Enerflex, Information Services, Pollard Banknote And Source Energy Services. The Montreal franchiser MTY has been on this list for the past two years.

Nine directors at Rogers Sugar (And Lantic Sugar) have just purchased a total of approximately $100,000 worth of shares in the Montreal sugar and maple syrup producer. The purchase transactions were all made on January 9 at a unit price of $5.46.

Quebec titles of CGI, Stella-Jones, Haivision, Waterfalls, Stingray, Alimentation Couche-Tard And Dorel all hit a 52-week high again this week on the Toronto Stock Exchange.

On the other hand, that of Marine Vision continues its slide and reached another 52-week low this week on the NASDAQ.


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