CIBC Asset Management Inc Buys 70,819 Shares of BRP Inc. (NASDAQ:DOOO)

CIBC Asset Management Inc lifted its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 154.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,659 shares of the company's stock after purchasing an additional 70,819 shares during the quarter. CIBC Asset Management Inc owned 0.16% of BRP worth $7,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE grew its position in 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 acquiring an additional 322 shares during the period. UniSuper Management Pty Ltd lifted its holdings in BRP by 66.7% during the 1st 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 last quarter. Dnca Finance acquired a new position in BRP in the second quarter valued at about $66,000. Spartan Fund Management Inc. bought a new stake in BRP during the third quarter worth about $72,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of BRP in the second quarter valued at approximately $201,000.

BRP Trading Up 0.2 %

Shares of DOOO stock traded up $0.10 on Monday, reaching $48.19. The company had a trading volume of 100,233 shares, compared to its average volume of 125,051. The company has a 50-day moving average of $55.77 and a 200-day moving average of $63.03. BRP Inc. has a 12 month low of $47.36 and a 12 month high of $75.92. The stock has a market cap of $3.52 billion, a PE ratio of 19.98 and a beta of 2.07. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99.

BRP (NASDAQ:DOOO - Get Free Report) last posted its earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. On average, equities analysts forecast that BRP Inc. will post 2.3 earnings per share for the current year.

BRP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, September 27th. BRP's dividend payout ratio is currently 25.73%.

Analysts Set New Price Targets

DOOO has been the subject of a number of recent analyst reports. Desjardins cut BRP from a "moderate buy" rating to a "hold" rating in a report on Sunday, September 8th. UBS Group decreased their price objective on shares of BRP from $66.00 to $65.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. National Bank Financial downgraded shares of BRP from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, August 21st. Scotiabank lowered shares of BRP from a "sector outperform" rating to a "sector perform" rating in a report on Monday, September 9th. Finally, Cibc World Mkts downgraded BRP from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $97.00.

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.