QV Investors Inc. Trims Position in BRP Inc. (NASDAQ:DOOO)

QV Investors Inc. decreased its position in shares of BRP Inc. (NASDAQ:DOOO) by 0.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 437,631 shares of the company’s stock after selling 1,704 shares during the quarter. BRP makes up 2.3% of QV Investors Inc.’s holdings, making the stock its 15th largest holding. QV Investors Inc.’s holdings in BRP were worth $26,074,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. UniSuper Management Pty Ltd boosted its stake in BRP by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Trivant Custom Portfolio Group LLC bought a new position in shares of BRP during the first quarter worth $50,000. Dnca Finance purchased a new position in BRP during the second quarter valued at $66,000. Lake Street Advisors Group LLC bought a new stake in BRP in the 2nd quarter valued at $201,000. Finally, Intech Investment Management LLC purchased a new stake in BRP in the 2nd quarter worth $209,000.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DOOO shares. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Citigroup decreased their price objective on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 9th. UBS Group cut 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. Finally, Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.00.

BRP Stock Down 3.5 %

Shares of NASDAQ DOOO opened at $56.47 on Wednesday. BRP Inc. has a 1 year low of $56.21 and a 1 year high of $77.74. The firm has a 50-day simple moving average of $63.84 and a two-hundred day simple moving average of $66.20. The company has a market cap of $4.19 billion, a P/E ratio of 10.21 and a beta of 2.06. 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 (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 analysts’ consensus estimates of $0.22 by $0.23. BRP had a return on equity of 79.58% and a net margin of 2.78%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. Research analysts anticipate that BRP Inc. will post 2.21 earnings per share for the current year.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Friday, September 27th. BRP’s dividend payout ratio is currently 11.21%.

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.