BRP Inc. (NASDAQ:DOOO) Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in BRP Inc. (NASDAQ:DOOO) by 154.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 116,659 shares of the company’s stock after buying an additional 70,819 shares during the period. CIBC Asset Management Inc’s holdings in BRP were worth $7,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd increased its holdings in BRP by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. US Bancorp DE grew its holdings in shares of BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of BRP by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after purchasing an additional 520 shares during the last quarter. Dnca Finance bought a new position in shares of BRP during the second quarter valued at approximately $66,000. Finally, Addenda Capital Inc. grew its holdings in shares of BRP by 9.9% during the second quarter. Addenda Capital Inc. now owns 11,636 shares of the company’s stock valued at $745,000 after purchasing an additional 1,053 shares during the last quarter.

Wall Street Analysts Forecast Growth

DOOO has been the subject of several recent research reports. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Citigroup lowered their target price on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 9th. Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. National Bank Financial downgraded BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $97.00.

BRP Stock Performance

DOOO opened at $48.09 on Monday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 19.95 and a beta of 2.07. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. BRP Inc. has a 1-year low of $47.36 and a 1-year high of $75.92. The business has a 50 day moving average price of $55.77 and a two-hundred day moving average price of $63.03.

BRP (NASDAQ:DOOO) last released its earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. Research analysts predict that BRP Inc. will post 2.3 EPS for the current fiscal year.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.152 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 1.26%. BRP’s dividend payout ratio (DPR) is 25.73%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.