In this article, we discuss the top 10 stock picks of Robert Bishop’s Impala Asset Management as of the end of the third quarter of 2021 and assess their performance over the past 12 months. If you want to read our detailed analysis of the hedge fund, its investment philosophy, and hedge fund performance, go directly to Was Robert Bishop’s Impala Asset Management Right About These 10 Stocks?
5. Brunswick Corporation (NYSE:BC)
Impala Asset Management’s Stake Value: $50M
Stock performance over the past 12 months through November 27: -23%
Brunswick Corporation (NYSE:BC), formerly known as the Brunswick-Balke-Collender Company, is an Illinois-based corporation that designs, manufactures, and markets recreational marine products, including marine propulsion products, parts and accessories, and boat brands.
On November 11, JPMorgan analyst Kevin Heenan assumed coverage of Brunswick Corporation (NYSE:BC) with an Overweight rating and price target of $123, up from $120.
4. Danaos Corporation (NYSE:DAC)
Impala Asset Management’s Stake Value: $78M
Stock performance over the past 12 months through November 27: -19%
One of the largest independent owners of modern, large-size containerships, Danaos Corporation (NYSE:DAC) is a Greek holding company that boasts a fleet of 71 container vessels chartered to a range of liner companies.
Earlier on November 10, Citi analyst Christian Wetherbee raised the price target on Danaos Corporation (NYSE:DAC) to $90 from $80 and maintained a Neutral rating on the shares following the Q3 beat. The analyst cites a strong near-term outlook for the company.
3. Devon Energy Corporation (NYSE:DVN)
Impala Asset Management’s Stake Value: $84.2M
Stock performance over the past 12 months through November 27: +55%
Devon Energy Corporation (NYSE:DVN) is an Oklahoma-based energy company engaged in hydrocarbon exploration in the United States.
On November 30, Mizuho analyst Silvio Micheloto raised the price target on Devon Energy Corporation (NYSE:DVN) to $61 from $59 and maintained a Buy rating on the shares of the company.
GoodHaven Capital Management, in its fourth-quarter 2020 investor letter, mentioned Devon Energy Corporation (NYSE:DVN). Here is what the fund said:
“After a rough start to the year our two biggest energy holdings – WPX Energy rebounded materially in the last six months though energy was still our biggest detractor for the year. I’ve previously written about deciding earlier this year to direct new capital towards better businesses versus adding more to the energy sector, but given the material optionality at WPX, we opted to maintain a material exposure. Recently WPX announced an all stock merger with a larger competitor – Devon Energy – which will leave the new company with plenty of cash flow at lower oil prices, less leverage, and material upside to higher commodity prices.”
2. West Fraser Timber Co. Ltd. (NYSE:WFG)
Impala Asset Management’s Stake Value: $91M
Stock performance over the past 12 months through November 27: -1%
West Fraser Timber Co. Ltd. (NYSE:WFG) is a Canadian forestry company that produces lumber, LVL, MDF, plywood, pulp, newsprint, and wood chips. Although it mainly conducts business in Canada and the United States, the company also exports items to South America, Europe, and Asia.
On October 25, TD Securities analyst Sean Steuart downgraded West Fraser Timber Co. Ltd. (NYSE:WFG) to Buy from Action List Buy with an $85.87 price target.
1. Harley-Davidson, Inc. (NYSE:HOG)
Impala Asset Management’s Stake Value: $113M
Stock performance over the past 12 months through November 27: +26%
Harley-Davidson, Inc. (NYSE:HOG) is an American motorcycle manufacturer founded in 1903 in Milwaukee, Wisconsin.
On October 28, BMO Capital analyst Gerrick Johnson raised the firm’s price target on Harley-Davidson, Inc. (NYSE:HOG) to $62 from $54, and kept an Outperform rating on the shares.
You can also take a peek at the 10 Stocks With Over 30 Years of Dividend Hikes and 10 Monthly Dividend Stocks With Over 5% Yield.
