Royal Bank of Canada Sells 63,420 Shares of BRP Inc. (NASDAQ:DOOO)

Royal Bank of Canada cut its holdings in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,563 shares of the company's stock after selling 63,420 shares during the quarter. Royal Bank of Canada owned approximately 0.44% of BRP worth $16,257,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Dnca Finance grew its position in shares of BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock valued at $71,000 after acquiring an additional 369 shares during the period. Quadrant Capital Group LLC lifted its stake in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock valued at $35,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC grew its holdings in 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 purchasing an additional 903 shares during the period. Jane Street Group LLC grew its holdings in BRP by 1.4% during the fourth 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 period. Finally, Quantbot Technologies LP increased its position in BRP by 26.6% in the fourth quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock worth $246,000 after buying an additional 1,017 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on DOOO shares. Desjardins raised BRP from a "hold" rating to a "buy" rating in a research report on Friday. 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 note on Wednesday, April 23rd. Citigroup upgraded shares of BRP from a "sell" rating to a "neutral" rating and increased their target price for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. TD Securities upgraded shares of BRP from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Robert W. Baird reissued a "neutral" rating and issued a $43.00 price target (down previously from $48.00) on shares of BRP in a research report on Friday, April 4th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $53.75.

BRP Price Performance

Shares of DOOO traded up $3.12 during midday trading on Friday, hitting $43.67. 198,648 shares of the company traded hands, compared to its average volume of 164,061. BRP Inc. has a one year low of $31.78 and a one year high of $74.00. The firm has a market cap of $3.19 billion, a P/E ratio of 23.10 and a beta of 1.17. 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 stock has a 50-day moving average of $35.34 and a 200-day moving average of $42.91.

BRP (NASDAQ:DOOO - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, sell-side analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal 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 given a $0.1508 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, April 4th. This is an increase from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio (DPR) 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.