Van ECK Associates Corp Has $3.23 Million Stake in BRP Inc. (NASDAQ:DOOO)

Van ECK Associates Corp boosted its holdings in shares of BRP Inc. (NASDAQ:DOOOFree 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 (NASDAQ:DOOOGet Free Report) last issued its quarterly earnings results on Thursday, November 30th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.06. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.90 billion. BRP had a net margin of 8.59% and a return on equity of 150.71%. Sell-side analysts predict that BRP Inc. will post 8.26 earnings per share for the current fiscal year.

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.

Read Our Latest Research Report on DOOO

BRP Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for BRP (NASDAQ:DOOO)

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