BRP Inc. (NASDAQ:DOOO) Shares Sold by Pembroke Management LTD

Pembroke Management LTD lessened its holdings in BRP Inc. (NASDAQ:DOOO) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,628 shares of the company’s stock after selling 38,611 shares during the quarter. Pembroke Management LTD owned approximately 0.17% of BRP worth $8,236,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new position in BRP in the second quarter worth $562,000. Cortland Associates Inc. MO acquired a new position in BRP in the second quarter worth $301,000. Bank of New York Mellon Corp boosted its holdings in BRP by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock worth $1,964,000 after purchasing an additional 520 shares during the period. Ceredex Value Advisors LLC boosted its holdings in BRP by 297.4% in the second quarter. Ceredex Value Advisors LLC now owns 173,884 shares of the company’s stock worth $11,160,000 after purchasing an additional 130,131 shares during the period. Finally, Addenda Capital Inc. boosted its holdings in BRP by 9.9% in the second quarter. Addenda Capital Inc. now owns 11,636 shares of the company’s stock worth $745,000 after purchasing an additional 1,053 shares during the period.

BRP Stock Performance

Shares of NASDAQ DOOO traded up $1.21 during midday trading on Monday, reaching $72.38. 89,500 shares of the company traded hands, compared to its average volume of 120,393. BRP Inc. has a 52 week low of $57.15 and a 52 week high of $81.19. The stock has a 50-day moving average price of $67.74 and a 200 day moving average price of $66.98. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.35 and a quick ratio of 0.46. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 13.09 and a beta of 2.06.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Friday, May 31st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. BRP had a net margin of 5.87% and a return on equity of 101.72%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Sell-side analysts anticipate that BRP Inc. will post 4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. CIBC reduced their price target on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a report on Monday, June 3rd. National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Finally, Citigroup boosted their price target on shares of BRP from $73.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.75.

BRP Profile

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.