Shares of BRP Inc. (NASDAQ:DOOO – Get Rating) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $134.86.
A number of brokerages have recently issued reports on DOOO. Raymond James cut their target price on BRP from C$139.00 to C$124.00 in a research report on Friday. Royal Bank of Canada lifted their price target on BRP from C$138.00 to C$141.00 in a report on Friday. Stifel Nicolaus lifted their price target on BRP from C$145.00 to C$150.00 in a report on Friday, March 24th. Scotiabank lowered their target price on BRP from C$149.00 to C$145.00 in a research note on Friday. Finally, Citigroup lowered their target price on BRP from $92.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, March 27th.
Institutional Trading of BRP
Several hedge funds have recently added to or reduced their stakes in DOOO. Invesco Ltd. grew its holdings in shares of BRP by 103.1% in the 1st 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 in the last quarter. Norges Bank acquired a new stake in BRP during the fourth quarter worth approximately $28,986,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of BRP in the first quarter valued at approximately $19,626,000. Bank of America Corp DE lifted its stake in BRP by 51.6% during the first quarter. Bank of America Corp DE now owns 734,279 shares of the company’s stock worth $57,421,000 after purchasing an additional 250,005 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in BRP by 103.5% during the fourth quarter. National Bank of Canada FI now owns 378,508 shares of the company’s stock worth $28,816,000 after purchasing an additional 192,477 shares during the last quarter. Institutional investors and hedge funds own 27.61% of the company’s stock.
BRP Price Performance
BRP (NASDAQ:DOOO – Get Rating) last announced its quarterly earnings results on Thursday, June 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. BRP had a return on equity of 424.11% and a net margin of 8.43%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, analysts forecast that BRP will post 9.14 EPS for the current year.
BRP Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a $0.133 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from BRP’s previous quarterly dividend of $0.13. BRP’s dividend payout ratio is 6.31%.
BRP Company Profile
BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes year-round products, seasonal products and powersports PA&A and OEM Engines.
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