Fmr LLC Trims Holdings in BRP Inc. (NASDAQ:DOOO)

FMR LLC lowered its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 27.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,016,706 shares of the company's stock after selling 1,145,551 shares during the period. FMR LLC owned 4.13% of BRP worth $179,537,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DOOO. The Manufacturers Life Insurance Company boosted its stake in shares of BRP by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company's stock valued at $73,027,000 after purchasing an additional 150,039 shares in the last quarter. American Century Companies Inc. increased its position in shares of BRP by 45.6% during the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company's stock valued at $68,656,000 after purchasing an additional 335,715 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of BRP by 13.5% in the 2nd quarter. National Bank of Canada FI now owns 479,312 shares of the company's stock worth $30,455,000 after buying an additional 56,954 shares during the last quarter. QV Investors Inc. purchased a new stake in BRP during the second quarter valued at about $28,142,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock valued at $24,159,000 after buying an additional 61,502 shares during the period.

BRP Stock Up 0.2 %

NASDAQ:DOOO traded up $0.08 on Tuesday, hitting $49.68. 84,035 shares of the company's stock traded hands, compared to its average volume of 127,549. The company has a market cap of $3.63 billion, a PE ratio of 20.58 and a beta of 2.03. The firm has a 50-day moving average price of $53.08 and a 200-day moving average price of $61.43. BRP Inc. has a 1 year low of $46.85 and a 1 year high of $75.59. 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 issued its earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. Equities analysts anticipate that BRP Inc. will post 2.26 EPS for the current fiscal year.

BRP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.152 per share. The ex-dividend date was Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 1.22%. BRP's payout ratio is currently 25.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup dropped their price objective on BRP from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Monday, September 9th. Cibc World Mkts downgraded BRP from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 9th. 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 BRP from $66.00 to $65.00 and set a "neutral" rating for the company in a research note on Friday, September 13th. Finally, Stifel Nicolaus lowered BRP from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $97.00.

About BRP

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.