Ontario Teachers Pension Plan Board Decreases Stock Holdings in BRP Inc. (NASDAQ:DOOO)

Ontario Teachers Pension Plan Board cut its holdings in BRP Inc. (NASDAQ:DOOO) by 35.6% during the third quarter, Holdings Channel reports. The institutional investor owned 49,712 shares of the company’s stock after selling 27,478 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in BRP were worth $2,958,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. US Bancorp DE increased its position in shares of BRP by 350.0% during the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares during the last quarter. UniSuper Management Pty Ltd grew its position in shares of BRP by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Dnca Finance bought a new stake in shares of BRP in the second quarter worth about $66,000. Spartan Fund Management Inc. purchased a new stake in shares of BRP in the third quarter worth about $72,000. Finally, Lake Street Advisors Group LLC bought a new position in BRP during the second quarter valued at approximately $201,000.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group decreased their price objective on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Citigroup decreased their target price on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Scotiabank lowered BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.00.

BRP Stock Up 1.0 %

Shares of NASDAQ DOOO opened at $48.65 on Wednesday. BRP Inc. has a 1 year low of $47.36 and a 1 year high of $75.92. The firm has a 50-day simple moving average of $55.37 and a two-hundred day simple moving average of $62.75. The company has a market cap of $3.55 billion, a P/E ratio of 20.19 and a beta of 2.07. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. Research analysts anticipate that BRP Inc. will post 2.3 earnings per share 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 issued a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, September 27th. BRP’s payout ratio is presently 25.73%.

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.