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

National Bank of Canada FI cut its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 432,992 shares of the company's stock after selling 46,320 shares during the period. National Bank of Canada FI owned approximately 0.59% of BRP worth $25,772,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased 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 worth $73,027,000 after acquiring an additional 150,039 shares during the period. American Century Companies Inc. raised its stake 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 worth $68,656,000 after buying an additional 335,715 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BRP by 17.9% in the 3rd 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. TD Asset Management Inc lifted its holdings in shares of BRP by 15.1% in the 2nd quarter. TD Asset Management Inc now owns 272,603 shares of the company's stock valued at $17,462,000 after buying an additional 35,695 shares during the period. Finally, Ceredex Value Advisors LLC boosted its stake in shares of BRP by 27.5% in the third quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company's stock valued at $13,233,000 after buying an additional 47,800 shares in the last quarter.

BRP Price Performance

DOOO stock traded down $1.01 on Tuesday, reaching $52.38. The company had a trading volume of 161,888 shares, compared to its average volume of 129,887. The company's fifty day moving average is $52.10 and its 200 day moving average is $60.82. The company has a market cap of $3.82 billion, a P/E ratio of 28.40 and a beta of 2.03. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP Inc. has a 1 year low of $46.85 and a 1 year high of $75.59.

BRP (NASDAQ:DOOO - Get Free Report) last issued its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 58.01% and a net margin of 2.29%. On average, research analysts forecast that BRP Inc. will post 2.26 earnings per share for the current year.

BRP Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.1485 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.13%. BRP's dividend payout ratio (DPR) is presently 32.98%.

Wall Street Analysts Forecast Growth

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