CIBC Asset Management Inc Raises Stake in BRP Inc. (NASDAQ:DOOO)

CIBC Asset Management Inc lifted its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,038 shares of the company's stock after purchasing an additional 16,379 shares during the quarter. CIBC Asset Management Inc owned 0.18% of BRP worth $7,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DOOO. US Bancorp DE boosted its stake in BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company's stock worth $25,000 after buying an additional 322 shares during the period. DRW Securities LLC purchased a new position in BRP during the third quarter worth $161,000. Public Employees Retirement System of Ohio bought a new stake in shares of BRP during the third quarter worth $178,000. Creative Planning bought a new stake in shares of BRP during the third quarter worth $227,000. Finally, Quantbot Technologies LP lifted its position in shares of BRP by 9.7% during the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company's stock worth $228,000 after purchasing an additional 337 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded BRP from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $97.00.

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BRP Stock Down 2.5 %

Shares of DOOO stock traded down $1.07 on Friday, hitting $40.92. The stock had a trading volume of 175,994 shares, compared to its average volume of 256,735. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The business has a 50 day moving average price of $48.91 and a 200 day moving average price of $54.60. The company has a market cap of $2.99 billion, a PE ratio of 21.77 and a beta of 2.02. BRP Inc. has a one year low of $40.55 and a one year high of $75.59.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings data on Friday, December 6th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. Research analysts anticipate that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.1485 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.45%. BRP's dividend payout ratio is presently 30.85%.

BRP Company 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.