National Bank of Canada FI Raises Position in BRP Inc. (NASDAQ:DOOO)

National Bank of Canada FI grew its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 17.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 422,358 shares of the company’s stock after purchasing an additional 63,060 shares during the quarter. National Bank of Canada FI’s holdings in BRP were worth $29,664,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in BRP by 136.5% during the 3rd quarter. Wellington Management Group LLP now owns 19,573 shares of the company’s stock worth $1,488,000 after purchasing an additional 11,298 shares during the period. Vanguard Group Inc. grew its position in BRP by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,282,737 shares of the company’s stock worth $97,308,000 after purchasing an additional 18,859 shares during the period. Raymond James & Associates grew its position in BRP by 12.8% during the 4th quarter. Raymond James & Associates now owns 27,027 shares of the company’s stock worth $1,938,000 after purchasing an additional 3,074 shares during the period. DekaBank Deutsche Girozentrale grew its position in BRP by 84.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 12,225 shares of the company’s stock worth $858,000 after purchasing an additional 5,594 shares during the period. Finally, NewEdge Wealth LLC acquired a new stake in BRP during the 4th quarter worth about $215,000.

BRP Trading Up 3.1 %

Shares of NASDAQ DOOO traded up $2.04 during midday trading on Thursday, reaching $68.53. 22,532 shares of the stock were exchanged, compared to its average volume of 124,778. The company has a 50 day simple moving average of $65.16 and a 200 day simple moving average of $66.58. The stock has a market capitalization of $5.08 billion, a P/E ratio of 12.02 and a beta of 2.06. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.46 and a current ratio of 1.35. BRP Inc. has a twelve month low of $57.15 and a twelve month high of $92.74.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Friday, May 31st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. BRP had a net margin of 5.87% and a return on equity of 101.72%. As a group, equities analysts expect that BRP Inc. will post 4.49 earnings per share for the current year.

BRP Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.152 per share. The ex-dividend date was Friday, June 28th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.89%. BRP’s dividend payout ratio is currently 11.03%.

Analysts Set New Price Targets

DOOO has been the topic of several recent analyst reports. Desjardins increased their target price on shares of BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Raymond James lowered their target price on shares of BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 1st. CIBC lowered their target price on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a research note on Monday, June 3rd. Finally, Citigroup increased their target price on shares of BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.75.

BRP Company 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.