Van ECK Associates Corp boosted its holdings in shares of BRP Inc. (NASDAQ:DOOO – Free Report) by 38.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,692 shares of the company’s stock after purchasing an additional 11,939 shares during the period. Van ECK Associates Corp’s holdings in BRP were worth $3,233,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOOO. Bank of Montreal Can bought a new position in BRP during the second quarter worth about $76,632,000. Beutel Goodman & Co Ltd. lifted its stake in BRP by 13.3% during the second quarter. Beutel Goodman & Co Ltd. now owns 3,763,837 shares of the company’s stock worth $318,543,000 after purchasing an additional 440,782 shares during the period. Invesco Ltd. raised its stake in shares of BRP by 103.1% in the first quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock valued at $65,671,000 after acquiring an additional 407,545 shares during the last quarter. Norges Bank bought a new position in shares of BRP in the fourth quarter valued at approximately $28,986,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of BRP in the first quarter valued at approximately $19,626,000. Institutional investors own 26.68% of the company’s stock.
BRP Stock Performance
Shares of BRP stock opened at $68.99 on Tuesday. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.40 and a quick ratio of 0.41. The firm has a market cap of $5.23 billion, a P/E ratio of 8.04 and a beta of 2.14. The firm has a 50 day simple moving average of $66.98 and a 200 day simple moving average of $72.57. BRP Inc. has a fifty-two week low of $57.15 and a fifty-two week high of $92.74.
BRP Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, December 28th. BRP’s dividend payout ratio is presently 6.18%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on DOOO. Canaccord Genuity Group cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. UBS Group cut shares of BRP from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, BRP has a consensus rating of “Moderate Buy” and a consensus target price of $133.20.
BRP Company Profile
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.
- Five stocks we like better than BRP
- How to Invest in Esports
- 3 attractive stocks that insiders are buying
- How to Invest in Fertilizer
- Alpha and Omega Semiconductor ready to bounce, DOJ cloud lifts
- Investing In Automotive Stocks
- Wendy’s vs Shake Shack: Out with the new, in with the old?
Receive News & Ratings for BRP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BRP and related companies with MarketBeat.com's FREE daily email newsletter.