National Bank of Canada FI Has $29.66 Million Stock Position in BRP Inc. (NASDAQ:DOOO)

National Bank of Canada FI lifted its stake in shares of BRP Inc. (NASDAQ:DOOO) by 17.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 422,358 shares of the company’s stock after purchasing an additional 63,060 shares during the quarter. National Bank of Canada FI owned 0.56% of BRP worth $29,664,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DOOO. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 18,859 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of BRP by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock worth $50,975,000 after buying an additional 184,313 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of BRP by 539.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock worth $40,105,000 after buying an additional 471,986 shares during the last quarter. Norges Bank bought a new position in BRP in the fourth quarter valued at about $30,666,000. Finally, TD Asset Management Inc raised its position in BRP by 3.6% in the fourth quarter. TD Asset Management Inc now owns 258,758 shares of the company’s stock valued at $18,607,000 after purchasing an additional 8,977 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have commented on DOOO. Raymond James dropped their target price on BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a research report on Monday, April 1st. Citigroup increased their target price on BRP from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. CIBC dropped their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a research report on Monday, June 3rd. Finally, Desjardins raised their price objective on BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.75.

BRP Stock Up 3.1 %

BRP stock traded up $2.04 during mid-day trading on Thursday, reaching $68.53. The stock had a trading volume of 22,532 shares, compared to its average volume of 124,778. 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 fifty-two week low of $57.15 and a fifty-two week high of $92.74. The stock’s 50-day simple moving average is $65.16 and its 200-day simple moving average is $66.58. The firm has a market capitalization of $5.08 billion, a PE ratio of 12.02 and a beta of 2.06.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, May 31st. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. BRP had a return on equity of 101.72% and a net margin of 5.87%. On average, sell-side analysts forecast that BRP Inc. will post 4.49 EPS for the current fiscal year.

BRP Cuts Dividend

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

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.