Bank of Montreal Can Reduces Holdings in BRP Inc. (NASDAQ:DOOO)

Bank of Montreal Can cut its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,237 shares of the company's stock after selling 194,803 shares during the period. Bank of Montreal Can owned 0.53% of BRP worth $19,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Quadrant Capital Group LLC lifted its holdings in shares of BRP by 259.3% in the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after acquiring an additional 490 shares during the last quarter. Signaturefd LLC grew its stake in shares of BRP by 296.1% during the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock valued at $61,000 after buying an additional 903 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of BRP by 26.6% during the 4th quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock worth $246,000 after acquiring an additional 1,017 shares during the last quarter. Addenda Capital Inc. boosted its holdings in BRP by 10.5% during the 4th 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 period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in BRP in the fourth quarter worth $77,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DOOO shares. TD Securities reiterated a "hold" rating on shares of BRP in a report on Thursday, March 27th. Robert W. Baird reaffirmed a "neutral" rating and set a $43.00 target price (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $27.00 to $37.00 in a report on Friday, April 4th. Raymond James reaffirmed a "strong-buy" rating on shares of BRP in a research report on Thursday, March 27th. Finally, Baird R W downgraded BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $61.25.

BRP Stock Performance

NASDAQ:DOOO traded up $0.07 during trading hours on Thursday, hitting $33.27. 49,200 shares of the company were exchanged, compared to its average volume of 151,856. The company's 50 day moving average price is $38.42 and its 200-day moving average price is $47.00. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 17.69 and a beta of 1.71. BRP Inc. has a 52-week low of $32.24 and a 52-week high of $74.00. 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 (NASDAQ:DOOO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, research analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be issued a $0.1508 dividend. This is an increase from BRP's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, April 4th. BRP's dividend payout ratio is -29.21%.

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.