Waratah Capital Advisors Ltd. Cuts Stock Holdings in BRP Inc. $DOOO

Waratah Capital Advisors Ltd. cut its stake in shares of BRP Inc. (NASDAQ:DOOO) by 30.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 145,328 shares of the company’s stock after selling 62,549 shares during the period. Waratah Capital Advisors Ltd. owned 0.20% of BRP worth $8,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp raised its position in shares of BRP by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 2,847,424 shares of the company’s stock worth $138,302,000 after buying an additional 962,696 shares during the period. Vanguard Group Inc. grew its holdings in shares of BRP by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,372,256 shares of the company’s stock worth $83,437,000 after purchasing an additional 102,269 shares during the period. Invesco Ltd. increased its position in BRP by 6.8% during the 2nd quarter. Invesco Ltd. now owns 1,318,418 shares of the company’s stock worth $63,904,000 after purchasing an additional 83,617 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in BRP by 144.4% during the first quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company’s stock valued at $24,460,000 after buying an additional 427,434 shares in the last quarter. Finally, QV Investors Inc. purchased a new stake in BRP during the third quarter worth approximately $29,351,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DOOO. Zacks Research downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Citigroup reissued a “buy” rating on shares of BRP in a research report on Wednesday, January 14th. National Bank Financial upgraded BRP from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 4th. Desjardins reiterated a “buy” rating on shares of BRP in a research note on Friday, December 5th. Finally, Loop Capital began coverage on BRP in a report on Thursday, November 13th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, BRP currently has a consensus rating of “Moderate Buy” and an average target price of $84.40.

BRP Trading Down 4.8%

NASDAQ:DOOO opened at $77.69 on Wednesday. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 209.97 and a beta of 1.26. BRP Inc. has a one year low of $31.78 and a one year high of $78.07. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.49 and a current ratio of 1.23. The business’s 50-day simple moving average is $76.09 and its 200 day simple moving average is $68.75.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Thursday, December 4th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.27. BRP had a return on equity of 67.30% and a net margin of 0.45%.The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.50 billion. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. BRP has set its FY 2026 guidance at 3.600-3.600 EPS. As a group, sell-side analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were issued a $0.215 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.86 annualized dividend and a yield of 1.1%. BRP’s dividend payout ratio is currently 164.86%.

BRP Company Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company’s diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP’s product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.