Ontario Teachers Pension Plan Board Grows Stock Position in BRP Inc. (NASDAQ:DOOO)

Ontario Teachers Pension Plan Board lifted its stake in BRP Inc. (NASDAQ:DOOO) by 18.5% in the first quarter, HoldingsChannel reports. The firm owned 35,081 shares of the company’s stock after acquiring an additional 5,489 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in BRP were worth $2,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DOOO. The Manufacturers Life Insurance Company boosted its holdings in BRP by 539.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock valued at $40,105,000 after purchasing an additional 471,986 shares during the period. Norges Bank purchased a new stake in BRP during the 4th quarter worth about $30,666,000. Goldman Sachs Group Inc. lifted its holdings in 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. Intact Investment Management Inc. lifted its holdings in BRP by 323.1% during the 4th quarter. Intact Investment Management Inc. now owns 125,100 shares of the company’s stock worth $8,954,000 after buying an additional 95,530 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in BRP during the 1st quarter worth about $5,376,000.

BRP Stock Performance

DOOO stock traded up $1.12 during trading on Monday, hitting $70.45. The company had a trading volume of 34,945 shares, compared to its average volume of 124,444. The firm has a market cap of $5.22 billion, a PE ratio of 12.54 and a beta of 2.06. BRP Inc. has a 1-year low of $57.15 and a 1-year high of $92.74. The firm has a 50-day moving average price of $65.24 and a 200-day moving average price of $66.58. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 4.23.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, May 31st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $1.50 billion for 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, analysts expect that BRP Inc. will post 4.49 earnings per share for the current year.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were given a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, June 28th. BRP’s payout ratio is 11.03%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DOOO shares. Desjardins lifted their price target on BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Citigroup lifted their target price on BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. CIBC cut their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a research report on Monday, June 3rd. Finally, Raymond James cut their target price on BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BRP currently has a consensus rating of “Moderate Buy” and an average target price of $122.75.

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.