Ontario Teachers Pension Plan Board Sells 27,478 Shares of BRP Inc. (NASDAQ:DOOO)

Ontario Teachers Pension Plan Board lessened its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 35.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,712 shares of the company's stock after selling 27,478 shares during the period. Ontario Teachers Pension Plan Board owned 0.07% of BRP worth $2,958,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DOOO. The Manufacturers Life Insurance Company boosted its position in shares of BRP by 61.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company's stock valued at $68,850,000 after purchasing an additional 408,692 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of BRP by 45.6% in the second quarter. American Century Companies Inc. now owns 1,072,168 shares of the company's stock valued at $68,656,000 after buying an additional 335,715 shares in the last quarter. National Bank of Canada FI lifted its position in shares of BRP by 13.5% during the 2nd quarter. National Bank of Canada FI now owns 479,312 shares of the company's stock valued at $30,455,000 after acquiring an additional 56,954 shares during the last quarter. QV Investors Inc. bought a new stake in shares of BRP during the 2nd quarter worth $28,142,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BRP by 17.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock worth $24,159,000 after acquiring an additional 61,502 shares in the last quarter.

BRP Stock Down 1.8 %

Shares of DOOO traded down $0.87 during midday trading on Wednesday, reaching $47.78. 125,183 shares of the stock were exchanged, compared to its average volume of 125,098. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 19.83 and a beta of 2.07. The firm has a 50 day simple moving average of $55.11 and a 200-day simple moving average of $62.64. BRP Inc. has a 12-month low of $47.07 and a 12-month high of $75.59. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly 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. 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. Research analysts forecast that BRP Inc. will post 2.3 EPS for the current year.

BRP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.152 per share. The ex-dividend date was Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 1.27%. BRP's dividend payout ratio (DPR) is presently 25.73%.

Analysts Set New Price Targets

DOOO has been the subject of several analyst reports. Scotiabank downgraded BRP from a "sector outperform" rating to a "sector perform" rating in a report on Monday, September 9th. UBS Group decreased their target price on shares of BRP from $66.00 to $65.00 and set a "neutral" rating for the company in a report on Friday, September 13th. Citigroup reduced their price target on shares of BRP from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Desjardins cut shares of BRP from a "moderate buy" rating to a "hold" rating in a research report on Sunday, September 8th. Finally, National Bank Financial lowered BRP from an "outperform" rating to a "sector perform" rating in a report on Wednesday, August 21st. Seven 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $97.00.

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.