Ontario Teachers Pension Plan Board Boosts Stock Position in BRP Inc. (NASDAQ:DOOO)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in BRP Inc. by 31.2%, owning 64,941 shares worth approximately $2.19 million as of the latest filing.
• BRP recently reported $0.33 earnings per share, exceeding analyst expectations of $0.29, although its revenue of $1.34 billion fell short of the anticipated $1.78 billion.
• The company has raised its quarterly dividend from $0.15 to $0.1557 per share, resulting in a 1.2% dividend yield for investors.

Ontario Teachers Pension Plan Board raised its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 31.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,941 shares of the company's stock after purchasing an additional 15,447 shares during the quarter. Ontario Teachers Pension Plan Board owned 0.09% of BRP worth $2,193,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DOOO. Quadrant Capital Group LLC grew its position in BRP by 259.3% during 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. Dnca Finance raised its position in BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after purchasing an additional 369 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in BRP during the 4th quarter worth $229,000. Quantinno Capital Management LP bought a new position in BRP during the 4th quarter worth $298,000. Finally, Barclays PLC raised its position in BRP by 529.1% during the 4th quarter. Barclays PLC now owns 8,707 shares of the company's stock worth $443,000 after purchasing an additional 7,323 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DOOO shares. Citigroup reaffirmed a "neutral" rating and set a $51.00 target price (up from $43.00) on shares of BRP in a research report on Monday, June 16th. Stifel Canada raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Desjardins raised BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. TD Securities upgraded BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. Finally, Wall Street Zen upgraded BRP from a "hold" rating to a "buy" rating in a report on Sunday, July 6th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.00.

BRP Stock Up 3.6%

BRP stock traded up $1.88 during midday trading on Tuesday, reaching $53.65. The stock had a trading volume of 129,551 shares, compared to its average volume of 228,502. BRP Inc. has a 12 month low of $31.78 and a 12 month high of $72.84. The company has a market capitalization of $3.92 billion, a P/E ratio of -130.90 and a beta of 1.24. The company has a fifty day moving average price of $49.36 and a two-hundred day moving average price of $42.25. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85.

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

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders 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 1.2%. The ex-dividend date was Monday, June 30th. This is a boost from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio (DPR) is presently -153.66%.

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.