Intech Investment Management LLC Raises Position in BRP Inc. (NASDAQ:DOOO)

Intech Investment Management LLC boosted its stake in BRP Inc. (NASDAQ:DOOO) by 706.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,318 shares of the company’s stock after buying an additional 23,053 shares during the quarter. Intech Investment Management LLC’s holdings in BRP were worth $1,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QV Investors Inc. purchased a new position in BRP in the 2nd quarter worth approximately $28,142,000. The Manufacturers Life Insurance Company lifted its stake in BRP by 61.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock worth $68,850,000 after purchasing an additional 408,692 shares in the last quarter. American Century Companies Inc. lifted its stake in BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock worth $68,656,000 after purchasing an additional 335,715 shares in the last quarter. Ceredex Value Advisors LLC lifted its stake in BRP by 297.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 173,884 shares of the company’s stock worth $11,160,000 after purchasing an additional 130,131 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in BRP by 154.5% in the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock worth $7,347,000 after purchasing an additional 70,819 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on DOOO shares. Desjardins lowered shares of BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Scotiabank lowered BRP from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, September 9th. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Finally, Citigroup reduced their price objective on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.00.

BRP Price Performance

DOOO stock opened at $50.84 on Tuesday. The business’s fifty day moving average price is $54.54 and its 200 day moving average price is $62.31. BRP Inc. has a 12-month low of $46.85 and a 12-month high of $75.59. The company has a market capitalization of $3.71 billion, a PE ratio of 21.10 and a beta of 2.07. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99.

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 the consensus estimate of $0.22 by $0.23. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. BRP had a net margin of 2.78% and a return on equity of 79.58%. On average, sell-side analysts anticipate that BRP Inc. will post 2.27 EPS for the current year.

BRP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.152 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 1.20%. BRP’s dividend payout ratio (DPR) is 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.