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

Bank of America Corp DE trimmed its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 41.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,344 shares of the company's stock after selling 128,083 shares during the period. Bank of America Corp DE owned approximately 0.24% of BRP worth $9,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in 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 purchasing an additional 490 shares during the period. Signaturefd LLC boosted its stake in shares of BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after buying an additional 903 shares during the last quarter. Dnca Finance grew its holdings in shares of BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after acquiring an additional 369 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in BRP during the fourth quarter valued at $77,000. Finally, Intact Investment Management Inc. bought a new position in BRP in the fourth quarter valued at about $148,000.

BRP Price Performance

Shares of BRP stock traded up $0.76 during trading on Tuesday, reaching $36.60. 161,382 shares of the stock traded hands, compared to its average volume of 160,935. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 19.47 and a beta of 1.17. BRP Inc. has a 52-week low of $31.78 and a 52-week high of $74.00. The business has a fifty day simple moving average of $35.31 and a two-hundred day simple moving average of $43.06.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The business 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%. Sell-side analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a $0.1508 dividend. This represents a $0.60 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is currently -29.21%.

Analyst Upgrades and Downgrades

DOOO has been the subject of a number of recent research reports. Raymond James restated a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. UBS Group lowered their price objective on BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $43.00 target price (down from $48.00) on shares of BRP in a report on Friday, April 4th. TD Securities restated a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Finally, Baird R W lowered shares of 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $53.75.

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.