BRP Inc. (NASDAQ:DOOO) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. cut its stake in shares of BRP Inc. (NASDAQ:DOOO) by 48.3% in the 4th quarter, Holdings Channel reports. The fund owned 9,934 shares of the company’s stock after selling 9,278 shares during the quarter. Scotia Capital Inc.’s holdings in BRP were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DOOO. Vanguard Group Inc. lifted its holdings in shares of BRP by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company’s stock worth $62,355,000 after purchasing an additional 19,874 shares during the period. Invesco Ltd. raised its position in BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company’s stock worth $59,175,000 after buying an additional 178,039 shares during the last quarter. FIL Ltd lifted its stake in shares of BRP by 176.2% in the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock worth $40,337,000 after acquiring an additional 505,228 shares during the period. Franklin Resources Inc. boosted its holdings in shares of BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock valued at $43,461,000 after acquiring an additional 214,626 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of BRP by 25.0% during the fourth quarter. Alliancebernstein L.P. now owns 388,568 shares of the company’s stock worth $19,766,000 after acquiring an additional 77,699 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOOO. Baird R W downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Raymond James reissued a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. 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 raised their target price for the company from $27.00 to $37.00 in a report on Friday, April 4th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $43.00 price target (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.25.

BRP Trading Down 0.0 %

Shares of DOOO stock opened at $36.64 on Tuesday. The stock has a market cap of $2.68 billion, a P/E ratio of 19.49 and a beta of 1.71. 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 fifty-two week low of $32.24 and a fifty-two week high of $74.00. The business has a fifty day simple moving average of $38.80 and a 200-day simple moving average of $47.18.

BRP (NASDAQ:DOOO) last announced its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, analysts forecast that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.1508 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, April 4th. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio is -29.21%.

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.