The wise investor | CN CEO buys

Every Sunday, we shine the spotlight on financial and stock market news items that may be useful to the investor, but which may have passed under the radar.

Posted at 7:00 a.m.

The new CEO of Canadian National has just bought her very first shares of the Montreal rail carrier, a transaction of half a million dollars.

Tracy Robinson bought a block of 3,300 shares on April 29. She paid a unit price of $153.60.

She took the guides from the NC last winter taking over from Jean-Jacques Ruest.

One more follower lined up behind BRP mid-week. Brandon Rollé, of the firm DA Davidson & Company, officially launched Thursday a follow-up of the activities of the manufacturer of recreational vehicles of Valcourt by suggesting the purchase of the title with a target price of $134 within 12 months. This analyst joined DA Davidson in March to provide coverage of the leisure and motorsports industry in particular. They are about fifteen analysts in total to follow BRP on Wall Street and Bay Street, and all recommend to buy.

5N More is no longer unanimous. The Montreal supplier of technological materials lost two of its five buy recommendations this week after the publication of its quarterly results. National Bank Financial and Desjardins Securities both withdrew their support, citing supply chain disruptions, inflationary pressures and the war in Ukraine (the company has Russian customers and revealed Wednesday that sales to a Canadian client with operations in Russia had not materialized in the beginning of the fiscal quarter).

Cogeco Communications lost the support of TD earlier this week mainly in connection with the activities of its American subsidiary Breezeline. Analyst Vince Valentini withdrew his buy suggestion on the Montreal telecommunications company on Monday, noting in particular that US cable stocks remained under intense pressure due to the deceleration in the growth of the number of subscribers to broadband services.

Yes EG-Group and Petro Canada represent two definitely interesting acquisition targets for Couche-Tard, analyst Vishal Shreedhar, of National Bank Financial, however, recalls that Couche-Tard has considered several transactions in the past without them materializing. In particular, one can think of Speedway, ampol, Crossroads and even Casey’s.

A Couche-Tard director sold just over $200,000 in shares of the Laval convenience store chain on Monday. Karinne Bouchard sold a block of 3,500 shares at a unit price of $58.48. She joined the board last year.

Two members of the board of Theratechnologies bought blocks of shares in the Montreal pharmaceutical company at the beginning of last week. Frank Holler bought 39,000 shares on Tuesday while Joseph Arena bought 5,000 shares on Monday. Both men became directors of the company last year.

The Quebec titles of Gildan, Cogeco, GDI, Theratechnologies, 5N More, Lion, Dorel, Savaria, Coveo, Richelieu Hardware, Lassonde, Bausch Health, Neptune and Hexo all hit 52-week lows this week. At the opposite, Food Couche-Tard once again hit a 52-week high on the Toronto Stock Exchange.

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The wise investor | CN CEO buys

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