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Highlights
- Industrial stocks are often sought after by investors who are looking for steady growth over a long period of time.
- An aircraft stock mentioned here rocketed by almost 217 per cent year-to-date (YTD).
- An industrial stock listed below swelled by over 111 per cent YTD.
Industrial stocks are often sought after by investors who are looking for steady growth over a long period of time.
Such stocks can help build financial wealth and can also be suitable investment opportunities for risk-averse investors in some cases.
So, let us explore some top Canadian industrial stocks of 2021.
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1. Bombardier Inc (TSX:BBD.B)
Montreal-based aircraft manufacturer Bombardier Inc recorded business jet revenues of US$ 1.4 million in Q3 FY2021, which indicated a year-over-year (YoY) surge of 17 per cent primarily due to increased deliveries of large aircraft and improved delivery mix.
As the fleet flight hours exceeded the 2019 levels, its business aircraft services revenue also expanded to US$ 76 million in the third quarter.
Stocks of Bombardier rocketed by almost 217 per cent year-to-date (YTD). The aircraft stock closed at C$ 1.52 per share on Monday, December 20.
2. ATS Automation Tooling Systems Inc (TSX:ATA)
ATS Automation Tooling Systems Inc designs, manufactures and provides a variety of automation systems and related services across North America and Europe.
The Cambridge-headquartered company, aka ATS, reported revenues of C$ 522.1 million in the second quarter of fiscal 2021, noting a YOY increase of 55.6 per cent.
Its profit of C$ 38.4 million in Q2 FY2021 was notably up from that of C$ 11.6 million a year ago.
ATS’s stock swelled by over 111 per cent YTD. The industrial stock closed at C$ 47.27 apiece on December 20.
Also read: 2 top dividend-paying telecom stocks to buy & hold
3. TFI International Inc (TSX:TFII)
TFI International Inc posted a total revenue of US$ 2.09 billion in the third quarter of FY2021, up from US$ 936.1 million in the prior-year quarter. Its net income from continuing operations surged by 60 per cent YoY to US$ 132.8 million in the latest quarter.
The Montreal-headquartered transportation and logistics firm saw its stock close at C$ 133.22 apiece on December 20.
TFII stock mounted by over 103 per cent this year. The company is also scheduled for a quarterly dividend payment of US$ 0.27 apiece on January 17, 2022.
4. Stantec Inc (TSX:STN)
Edmonton-based engineering and construction company Stantec Inc posted a net revenue of C$ 932.9 million in the third quarter of FY2021, up from C$ 916.5 million in Q3 2020.
Stantec’s profit stood at C$ 70 million in Q3 FY2021, notably up from C$ 62.1 million in Q3 FY2020.
Stantec will dole out a quarterly dividend of C$ 0.165 apiece on January 18, 2022.
STN stock rose by about 68 per cent YTD, and on December 20, it closed at C$ 69.38 apiece.
5. Westshore Terminals Investment Corporation (TSX:WTE)
Westshore Terminals Investment Corporation is a Vancouver-based transporter that provides coal storage and loading services.
Westshore Terminals recorded total revenue of C$ 86.02 million and net income of C$ 28.63 million in Q3 FY2021. The transportation company is also set to pay a quarterly dividend of C$ 0.25 apiece on January 15, 2022.
WTE stock closed at C$ 25.05 apiece on December 20. It delivered a YTD gain of almost 69 per cent.
Bottom line
Some Canadian industrial stocks have been known to bring significant growth in the long term. However, one should analyse a firm’s financials, market trends and dynamics to gauge the financial health of the stock.
Also read: 5 top Canadian renewable stocks of 2021
