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

Ontario Teachers Pension Plan Board decreased its stake in BRP Inc. (NASDAQ:DOOO) by 35.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,712 shares of the company’s stock after selling 27,478 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.07% of BRP worth $2,958,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DOOO. US Bancorp DE grew its stake in BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Dnca Finance acquired a new position in BRP during the 2nd quarter worth $66,000. Spartan Fund Management Inc. bought a new stake in BRP in the third quarter valued at about $72,000. Finally, Lake Street Advisors Group LLC bought a new stake in shares of BRP in the 2nd quarter valued at approximately $201,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. UBS Group decreased their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 13th. National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Finally, Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.00.

BRP Price Performance

Shares of NASDAQ DOOO opened at $48.65 on Wednesday. The business has a fifty day moving average price of $55.37 and a two-hundred day moving average price of $62.75. The stock has a market capitalization of $3.55 billion, a PE 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 Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $75.92.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The company had revenue of $1.34 billion for 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%. As a group, equities analysts predict that BRP Inc. will post 2.3 earnings per share for the current fiscal year.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Friday, September 27th. BRP’s payout ratio is presently 25.73%.

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.