BRP Inc. (NASDAQ:DOOO) Shares Bought by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 23.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,549 shares of the company’s stock after purchasing an additional 23,678 shares during the period. 1832 Asset Management L.P. owned approximately 0.16% of BRP worth $8,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in BRP by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,282,737 shares of the company’s stock worth $97,308,000 after purchasing an additional 18,859 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of BRP by 35.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock worth $50,975,000 after acquiring an additional 184,313 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 539.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock worth $40,105,000 after acquiring an additional 471,986 shares during the period. Norges Bank acquired a new stake in shares of BRP in the 4th quarter worth approximately $30,666,000. Finally, National Bank of Canada FI grew its holdings in shares of BRP by 17.6% in the 1st quarter. National Bank of Canada FI now owns 422,358 shares of the company’s stock worth $29,664,000 after acquiring an additional 63,060 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. CIBC lowered their price target on BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a report on Monday, June 3rd. Desjardins upped their price target on BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Citigroup upped their price target on BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Raymond James lowered their price target on BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.75.

BRP Price Performance

DOOO stock traded up $3.89 on Friday, reaching $72.23. The company had a trading volume of 88,811 shares, compared to its average volume of 92,771. BRP Inc. has a 1 year low of $57.15 and a 1 year high of $92.74. The company has a market cap of $5.36 billion, a P/E ratio of 13.06 and a beta of 2.06. The company’s fifty day moving average is $65.23 and its 200 day moving average is $66.57. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.46 and a current ratio of 1.35.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, May 31st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. BRP had a return on equity of 101.72% and a net margin of 5.87%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. On average, research analysts forecast that BRP Inc. will post 4.49 earnings per share for the current year.

BRP Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, June 28th. BRP’s dividend payout ratio is presently 11.03%.

BRP Profile

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.