National Bank of Canada FI Trims Stock Holdings in BRP Inc. (NASDAQ:DOOO)

National Bank of Canada FI lowered its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 412,934 shares of the company's stock after selling 20,058 shares during the quarter. National Bank of Canada FI owned about 0.57% of BRP worth $21,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOOO. CIBC Asset Management Inc raised its stake in shares of BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock valued at $7,270,000 after purchasing an additional 16,379 shares during the period. Alberta Investment Management Corp grew its position in shares of BRP by 44.2% during the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock valued at $2,408,000 after purchasing an additional 14,500 shares in the last quarter. Van ECK Associates Corp raised its position in shares of BRP by 699.9% in the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock worth $3,875,000 after buying an additional 66,627 shares in the last quarter. Geode Capital Management LLC increased its stake in BRP by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock worth $12,978,000 after acquiring an additional 15,892 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of BRP by 50.1% during the fourth quarter. Sei Investments Co. now owns 144,862 shares of the company's stock worth $7,369,000 after purchasing an additional 48,330 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DOOO shares. Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and raised their price target for the company from $27.00 to $37.00 in a research report on Friday. TD Securities reaffirmed a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Raymond James restated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Baird R W cut BRP from a "strong-buy" rating to a "hold" rating in a report on Friday. Finally, Robert W. Baird reissued a "neutral" rating and set a $43.00 target price (down from $48.00) on shares of BRP in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, BRP presently has an average rating of "Hold" and an average target price of $61.25.

BRP Stock Down 2.7 %

Shares of NASDAQ DOOO traded down $0.95 on Tuesday, reaching $34.74. 87,463 shares of the company's stock traded hands, compared to its average volume of 147,868. BRP Inc. has a 12 month low of $33.05 and a 12 month high of $74.00. 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 company has a market cap of $2.54 billion, a price-to-earnings ratio of 18.46 and a beta of 1.71. The business's 50 day simple moving average is $40.42 and its two-hundred day simple moving average is $48.31.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. As a group, equities research analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.1508 per share. This represents a $0.60 annualized dividend and a yield of 1.74%. This is an increase from BRP's previous quarterly dividend of $0.15. The ex-dividend date is Friday, April 4th. BRP's dividend payout ratio (DPR) is currently -29.21%.

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.