Scotia Capital Inc. Sells 9,278 Shares of BRP Inc. (NASDAQ:DOOO)

Scotia Capital Inc. reduced its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 48.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,934 shares of the company's stock after selling 9,278 shares during the period. Scotia Capital Inc.'s holdings in BRP were worth $499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quadrant Capital Group LLC grew its stake in shares of BRP by 259.3% during the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock valued at $35,000 after acquiring an additional 490 shares in the last quarter. Signaturefd LLC lifted its holdings in BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after acquiring an additional 903 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of BRP during the fourth quarter valued at approximately $77,000. Intact Investment Management Inc. bought a new stake in shares of BRP in the 4th quarter worth approximately $148,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in BRP in the third quarter worth $178,000.

BRP Stock Down 2.3 %

Shares of NASDAQ:DOOO traded down $0.76 during trading on Friday, hitting $32.44. 322,723 shares of the company's stock traded hands, compared to its average volume of 153,189. The company has a 50-day moving average price of $38.04 and a 200-day moving average price of $46.63. BRP Inc. has a 52 week low of $32.24 and a 52 week high of $74.00. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 17.26 and a beta of 1.71.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.97 billion. As a group, research analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a dividend of $0.1508 per share. The ex-dividend date was Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.86%. This is a positive change from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is currently -29.21%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Securities reaffirmed a "hold" rating on shares of BRP in a report on Thursday, March 27th. Citigroup raised BRP from a "sell" rating to a "neutral" rating and lifted their target price for the company from $27.00 to $37.00 in a research note on Friday, April 4th. Robert W. Baird reissued a "neutral" rating and set a $43.00 price target (down from $48.00) on shares of BRP in a report on Friday, April 4th. Raymond James reiterated a "strong-buy" rating on shares of BRP in a research report on Thursday, March 27th. Finally, Baird R W cut BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $61.25.

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.