Connor Clark & Lunn Investment Management Ltd. Grows Stake in BRP Inc. (NASDAQ:DOOO)

Connor Clark & Lunn Investment Management Ltd. raised its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 405,978 shares of the company's stock after acquiring an additional 61,502 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.56% of BRP worth $24,159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CIBC Asset Management Inc increased its position in BRP by 154.5% during the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company's stock valued at $7,347,000 after purchasing an additional 70,819 shares during the period. Fiera Capital Corp grew its position in shares of BRP by 2.1% during the 3rd quarter. Fiera Capital Corp now owns 112,768 shares of the company's stock worth $6,720,000 after buying an additional 2,340 shares during the period. Van ECK Associates Corp grew its position in shares of BRP by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 9,520 shares of the company's stock worth $567,000 after buying an additional 1,490 shares during the period. Ceredex Value Advisors LLC grew its position in shares of BRP by 27.5% during the 3rd quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company's stock worth $13,233,000 after buying an additional 47,800 shares during the period. Finally, US Bancorp DE grew its position in shares of BRP by 350.0% during the 3rd 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DOOO shares. Stifel Nicolaus cut BRP from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Scotiabank cut BRP from a "sector outperform" rating to a "sector perform" rating in a report on Monday, September 9th. Cibc World Mkts cut BRP from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. National Bank Financial cut BRP from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, August 21st. Finally, Citigroup dropped their price objective on BRP from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $97.00.

BRP Price Performance

Shares of DOOO traded down $0.29 during trading hours on Thursday, reaching $47.49. 13,667 shares of the company's stock traded hands, compared to its average volume of 124,605. 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 Inc. has a 12 month low of $46.96 and a 12 month high of $75.59. The firm's 50 day simple moving average is $55.11 and its 200-day simple moving average is $62.64. The stock has a market cap of $3.47 billion, a PE ratio of 19.83 and a beta of 2.07.

BRP (NASDAQ:DOOO - Get Free Report) last released its 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. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. Equities analysts expect that BRP Inc. will post 2.3 EPS for the current year.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, September 27th. BRP's dividend payout ratio is presently 25.73%.

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.