Shell Asset Management Co. Cuts Position in BRP Inc. (NASDAQ:DOOO)

Shell Asset Management Co. cut its holdings in BRP Inc. (NASDAQ:DOOO) by 80.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,600 shares of the company’s stock after selling 6,601 shares during the period. Shell Asset Management Co.’s holdings in BRP were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Addenda Capital Inc. boosted its stake in BRP by 10.5% in the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock valued at $678,000 after acquiring an additional 1,265 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after purchasing an additional 66,627 shares during the period. CIBC Asset Management Inc lifted its stake in BRP by 14.0% in the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after purchasing an additional 16,379 shares during the last quarter. Alberta Investment Management Corp grew its holdings in BRP by 44.2% during the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after purchasing an additional 14,500 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in BRP by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,154 shares of the company’s stock worth $5,047,000 after buying an additional 3,351 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DOOO. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. TD Securities reaffirmed a “hold” rating on shares of BRP in a report on Thursday, March 27th. Citigroup upgraded shares of BRP from a “sell” rating to a “neutral” rating and increased their target price for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Raymond James reissued a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Finally, UBS Group cut their price objective on shares of BRP from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BRP has a consensus rating of “Hold” and a consensus target price of $53.75.

BRP Stock Performance

NASDAQ DOOO opened at $37.45 on Tuesday. The company’s 50 day simple moving average is $35.57 and its two-hundred day simple moving average is $43.54. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. BRP Inc. has a 1 year low of $31.78 and a 1 year high of $74.00. The stock has a market capitalization of $2.74 billion, a PE ratio of 19.92 and a beta of 1.17.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. Analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were given a dividend of $0.1508 per share. The ex-dividend date of this dividend was Friday, April 4th. This is a positive change from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 1.61%. BRP’s payout ratio is presently -29.21%.

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.