BRP Inc. (NASDAQ:DOOO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,911 shares of the company’s stock after selling 3,855 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in BRP were worth $1,006,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after acquiring an additional 150,039 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of BRP by 45.6% during the second quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock worth $68,656,000 after buying an additional 335,715 shares in the last quarter. National Bank of Canada FI raised its position in shares of BRP by 13.5% in the second quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock valued at $30,455,000 after buying an additional 56,954 shares during the last quarter. QV Investors Inc. purchased a new position in shares of BRP in the second quarter worth about $28,142,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after acquiring an additional 61,502 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Desjardins lowered shares of BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Cibc World Mkts lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, UBS Group dropped their price objective 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. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BRP currently has a consensus rating of “Hold” and an average target price of $97.00.

BRP Trading Up 0.1 %

NASDAQ DOOO opened at $48.52 on Friday. The firm’s 50-day moving average is $52.41 and its two-hundred day moving average is $61.12. BRP Inc. has a 12 month low of $46.85 and a 12 month high of $75.59. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. The stock has a market capitalization of $3.54 billion, a P/E ratio of 20.13 and a beta of 2.03.

BRP (NASDAQ:DOOO) last posted its earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The company 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 2.26 earnings per share for the current year.

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.