Van ECK Associates Corp Raises Stock Position in BRP Inc. (NASDAQ:DOOO)

Van ECK Associates Corp boosted its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 699.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,147 shares of the company's stock after purchasing an additional 66,627 shares during the period. Van ECK Associates Corp owned 0.10% of BRP worth $3,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DOOO. Franklin Resources Inc. boosted its holdings in BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock worth $43,461,000 after acquiring an additional 214,626 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in BRP by 13.9% in 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 in the last quarter. CIBC Asset Management Inc boosted its holdings in BRP by 154.5% in the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company's stock worth $7,347,000 after acquiring an additional 70,819 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BRP by 17.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock worth $24,159,000 after purchasing an additional 61,502 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised 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 worth $13,233,000 after purchasing an additional 47,800 shares during the last quarter.

BRP Stock Down 2.8 %

DOOO traded down $1.16 during midday trading on Friday, reaching $40.83. The company's stock had a trading volume of 93,276 shares, compared to its average volume of 197,314. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 21.73 and a beta of 2.02. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. BRP Inc. has a 1 year low of $40.68 and a 1 year high of $75.59. The stock's 50-day moving average is $49.13 and its 200-day moving average is $54.88.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. As a group, research analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.1485 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.59 annualized dividend and a dividend yield of 1.46%. BRP's dividend payout ratio (DPR) is presently 30.85%.

Analysts Set New Price Targets

Separately, Citigroup downgraded BRP from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.