Scotia Capital Inc. Trims Holdings in BRP Inc. (NASDAQ:DOOO)

Scotia Capital Inc. lowered its stake in shares of BRP Inc. (NASDAQ:DOOO) by 48.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FIL Ltd lifted its stake in BRP by 176.2% during the fourth quarter. FIL Ltd now owns 792,000 shares of the company’s stock worth $40,337,000 after purchasing an additional 505,228 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after acquiring an additional 16,379 shares during the period. Alberta Investment Management Corp grew its position in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after acquiring an additional 14,500 shares in the last quarter. Van ECK Associates Corp increased its stake in BRP by 699.9% during the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after purchasing an additional 66,627 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after purchasing an additional 15,892 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DOOO shares. Raymond James restated a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Citigroup upgraded BRP from a “sell” rating to a “neutral” rating and increased their price objective 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 target price (down from $48.00) on shares of BRP in a research note on Friday, April 4th. TD Securities reaffirmed a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Finally, Baird R W downgraded BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.25.

BRP Stock Performance

Shares of DOOO opened at $36.64 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. BRP Inc. has a 52-week low of $32.24 and a 52-week high of $74.00. The stock has a 50 day moving average price of $38.80 and a 200 day moving average price of $47.18. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 19.49 and a beta of 1.71.

BRP (NASDAQ:DOOO) last posted its earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. Research analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.1508 per share. This is a positive change from BRP’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.65%. BRP’s payout ratio is -29.21%.

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.