Bank of America Corp DE Decreases Holdings in BRP Inc. (NASDAQ:DOOO)

Bank of America Corp DE lowered its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 41.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,344 shares of the company's stock after selling 128,083 shares during the quarter. Bank of America Corp DE owned about 0.24% of BRP worth $9,021,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock valued at $3,875,000 after purchasing an additional 66,627 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock valued at $7,270,000 after buying an additional 16,379 shares during the period. Alberta Investment Management Corp grew its stake in shares of 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 buying an additional 14,500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 period. Finally, Raymond James Financial Inc. purchased a new stake in shares of BRP in the fourth quarter worth approximately $916,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DOOO shares. Robert W. Baird restated a "neutral" rating and set a $43.00 price objective (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. Raymond James reissued a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. TD Securities restated a "hold" rating on shares of BRP in a report on Thursday, March 27th. UBS Group reduced their price target on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, Baird R W lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BRP currently has an average rating of "Hold" and an average target price of $53.75.

BRP Stock Up 12.9%

Shares of DOOO traded up $4.63 during midday trading on Thursday, reaching $40.55. 699,748 shares of the stock were exchanged, compared to its average volume of 163,859. The company has a market capitalization of $2.96 billion, a P/E ratio of 21.57 and a beta of 1.17. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. BRP Inc. has a 52 week low of $31.78 and a 52 week high of $74.00. The company's 50 day moving average is $35.34 and its two-hundred day moving average is $42.91.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, sell-side analysts anticipate 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 was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.1508 per share. This represents a $0.60 annualized dividend and a yield of 1.49%. This is a positive change from BRP's previous quarterly dividend of $0.15. The ex-dividend date was Friday, April 4th. BRP's dividend payout ratio (DPR) 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.