CIBC Asset Management Inc grew its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 154.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 owned 0.16% of BRP worth $7,347,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. US Bancorp DE grew its position in shares of BRP by 350.0% in 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 period. UniSuper Management Pty Ltd grew its position in shares of 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 purchasing an additional 200 shares during the period. Dnca Finance purchased a new stake in shares of BRP in the second quarter valued at $66,000. Spartan Fund Management Inc. acquired a new position in BRP in the third quarter valued at $72,000. Finally, Lake Street Advisors Group LLC acquired a new position in BRP in the second quarter valued at $201,000.
NASDAQ:DOOO opened at $48.09 on Monday. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP Inc. has a one year low of $47.36 and a one year high of $75.92. The business's 50-day simple moving average is $55.77 and its 200 day simple moving average is $63.03. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 19.95 and a beta of 2.07.
BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. BRP had a return on equity of 79.58% and a net margin of 2.78%. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.35 billion. As a group, sell-side analysts predict that BRP Inc. will post 2.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, September 27th. BRP's dividend payout ratio (DPR) is 25.73%.
A number of brokerages recently weighed in on DOOO. Scotiabank cut BRP from a "sector outperform" rating to a "sector perform" rating in a report on Monday, September 9th. Stifel Nicolaus cut BRP from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Citigroup reduced their target price on BRP from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, September 9th. UBS Group reduced their price objective on BRP from $66.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday, September 13th. Finally, Desjardins cut BRP from a "moderate buy" rating to a "hold" rating in a research note on Sunday, September 8th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $97.00.
Get Our Latest Stock Report on DOOO
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.
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