BRP (NASDAQ:DOOO) Downgraded by Desjardins to Hold

Desjardins lowered shares of BRP (NASDAQ:DOOO) from a moderate buy rating to a hold rating in a research note released on Sunday, Zacks.com reports.

Other equities analysts have also issued reports about the stock. Scotiabank lowered shares of BRP from a sector outperform rating to a sector perform rating in a research report on Monday. National Bank Financial downgraded shares of BRP from an outperform rating to a sector perform rating in a report on Wednesday, August 21st. Citigroup cut their price target on shares of BRP from $80.00 to $75.00 and set a buy rating for the company in a report on Monday. Stifel Nicolaus cut BRP from a buy rating to a hold rating in a research report on Wednesday, August 21st. Finally, CIBC cut their target price on BRP from $110.00 to $100.00 and set an outperformer rating for the company in a research note on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $113.40.

BRP Trading Down 0.8 %

Shares of DOOO stock opened at $58.22 on Friday. The company has a market capitalization of $4.32 billion, a P/E ratio of 10.53 and a beta of 2.07. The company has a current ratio of 1.35, a quick ratio of 0.46 and a debt-to-equity ratio of 4.23. The business’s 50 day moving average is $67.97 and its two-hundred day moving average is $66.89. BRP has a twelve month low of $57.15 and a twelve month high of $79.40.

BRP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, September 27th. BRP’s dividend payout ratio (DPR) is 11.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in BRP by 61.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after acquiring an additional 408,692 shares during the last quarter. American Century Companies Inc. lifted its stake in BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after buying an additional 335,715 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in BRP by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock valued at $50,975,000 after buying an additional 184,313 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in BRP by 539.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock worth $40,105,000 after buying an additional 471,986 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of BRP by 13.5% in the second quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock worth $30,455,000 after acquiring an additional 56,954 shares during the last quarter.

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.