National Bank of Canada FI Purchases 82,723 Shares of BRP Inc. (NASDAQ:DOOO)

Key Points

• National Bank of Canada FI has raised its stake in BRP Inc. (NASDAQ:DOOO) by 20%, acquiring 82,723 shares during the 1st quarter, now owning a total of 495,657 shares valued at approximately $16.73 million.
• The company reported an EPS of $0.33 for the last quarter, exceeding analysts' estimates of $0.29, but had revenue of $1.34 billion, below the anticipated $1.78 billion.
• BRP has increased its quarterly dividend to $0.1557 per share, reflecting an annualized yield of 1.2%, showing positive financial adjustments amidst its performance.

National Bank of Canada FI grew its holdings in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 20.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 495,657 shares of the company's stock after purchasing an additional 82,723 shares during the period. National Bank of Canada FI owned about 0.68% of BRP worth $16,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company's stock valued at $1,823,000 after purchasing an additional 293 shares during the last quarter. Dnca Finance lifted its stake in BRP by 36.1% in the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock valued at $71,000 after purchasing an additional 369 shares during the last quarter. Jane Street Group LLC lifted its stake in BRP by 1.4% in the 4th quarter. Jane Street Group LLC now owns 65,470 shares of the company's stock valued at $3,333,000 after purchasing an additional 933 shares during the last quarter. Addenda Capital Inc. lifted its stake in BRP by 10.3% in the 1st quarter. Addenda Capital Inc. now owns 14,699 shares of the company's stock valued at $497,000 after purchasing an additional 1,368 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in BRP in the 4th quarter valued at approximately $229,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Stifel Canada raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 29th. TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 30th. Wall Street Zen raised shares of BRP from a "hold" rating to a "buy" rating in a research note on Sunday, July 6th. Finally, Desjardins raised shares of BRP from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, BRP presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

BRP Trading Down 1.7%

Shares of DOOO traded down $0.95 during trading hours on Friday, hitting $56.60. 407,672 shares of the stock were exchanged, compared to its average volume of 235,421. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $72.84. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58. The business has a 50-day moving average of $50.17 and a 200-day moving average of $42.52. The firm has a market capitalization of $4.13 billion, a P/E ratio of -138.05 and a beta of 1.24.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.78 billion. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. On average, research analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid a $0.1557 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from BRP's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 30th. BRP's payout ratio is -153.66%.

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.