BRP Inc. (NASDAQ:DOOO) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in BRP Inc. (NASDAQ:DOOO) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,038 shares of the company’s stock after acquiring an additional 16,379 shares during the quarter. CIBC Asset Management Inc owned approximately 0.18% of BRP worth $7,270,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DOOO. US Bancorp DE lifted its stake in shares of BRP by 350.0% in 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 period. Quantbot Technologies LP increased its holdings in BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after buying an additional 337 shares in the last quarter. Addenda Capital Inc. raised its position in shares of BRP by 10.5% in the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock worth $678,000 after acquiring an additional 1,265 shares during the period. Van ECK Associates Corp boosted its stake in shares of BRP by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 9,520 shares of the company’s stock worth $567,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Fiera Capital Corp grew its position in shares of BRP by 2.1% during the 3rd quarter. Fiera Capital Corp now owns 112,768 shares of the company’s stock valued at $6,720,000 after acquiring an additional 2,340 shares during the period.

BRP Trading Up 0.5 %

Shares of BRP stock opened at $43.91 on Thursday. BRP Inc. has a twelve month low of $40.68 and a twelve month high of $75.59. The firm’s 50-day moving average price is $49.32 and its 200 day moving average price is $54.97. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The firm has a market capitalization of $3.21 billion, a PE ratio of 23.36 and a beta of 2.02.

BRP (NASDAQ:DOOO) last released its earnings results on Friday, December 6th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, sell-side analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.1485 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. BRP’s payout ratio is 30.85%.

Analyst Ratings Changes

Separately, Citigroup downgraded BRP from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.00.

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.