|Bid||56.16 x 0|
|Ask||56.19 x 0|
|Day's Range||55.42 - 58.09|
|52 Week Range||18.56 - 75.37|
|Beta (5Y Monthly)||3.36|
|PE Ratio (TTM)||42.35|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 24, 2019|
|1y Target Est||N/A|
Top Ranked Momentum Stocks to Buy for July 13th
VALCOURT, Quebec, July 09, 2020 -- Today, BRP (TSX: DOO, NASDAQ: DOOO) launched a new pilot program, Uncharted Society, that will offer more than 40 expertly curated.
Canadian manufacturer Bombardier Recreational Products (BRP) announced it will expand its capacity in Mexico with the construction of a new plant in Ciudad Juárez. The $185 million manufacturing plant will be the company's third in Juárez and create up to 1,000 new permanent jobs, said José Boisjoli, BRP's president and chief executive officer."Despite the [coronavirus] pandemic, demand for our products has remained strong, and even surpassed last year's figures for the same period," Boisjoli said in a release. "Our continued innovation and steady growth in Can-Am side-by-side vehicles (SSVs) make this additional capacity necessary to meet our goal of achieving 30% market share."Quebec-based BRP manufactures Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, as well as boats and marine propulsion systems. The company posted annual sales of Canadian $6.1 billion (U.S. $4.5 billion) last year. Boisjoli said demand for BRP's SSVs slowed temporarily when the pandemic started around March, but "retail sales went up by over 35% in May, compared to the previous year." Site planning and construction are scheduled to begin within the next few months, and the plant is expected to be ready for operation by fall 2021.BRP already employs more than 3,000 people at three facilities in Mexico out of its global workforce of 12,600.The company's two current production facilities in Ciudad Juárez, known as Juárez 1 and Juárez 2, are on the United States-Mexico border, near El Paso, Texas. BRP also has a production plant in the city of Santiago de Querétaro in central Mexico. Last year, BRP also expanded production at the two Ciudad Juárez plants to meet increased demand for powersport vehicles. Ciudad Juárez already has around 300 maquilas — export factories in Mexico run by foreign companies — employing around 340,000 workers. Officials in Mexico said BRP's expansion in Mexico is a direct result of the new United States- Mexico-Canada Agreement (USMCA), which went into effect on Wednesday."We hope that this is the first concrete result of the USMCA. [BRP's] announcement was made precisely because the USMCA is in place. This investment will be followed by many others," Mexican Economy Minister Graciela Márquez Colín said during a press conference Saturday.Click for more FreightWaves articles by Noi Mahoney.More storiesChinese truck maker making big moves in MexicoTexas makes face masks mandatory in public settingsMexico tough on foreign firms, but improvingSee more from Benzinga * Breaking: More Than 800 3PLs Got 0k Plus Under PPP * Uber Buys Food Delivery Startup Postmates For .65 Billion * Freight Rail News Round-Up(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
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The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
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