CIBC World Markets Inc. trimmed its position in shares of BRP Inc. (NASDAQ:DOOO) by 49.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,261 shares of the company’s stock after selling 121,055 shares during the quarter. CIBC World Markets Inc.’s holdings in BRP were worth $8,265,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Pembroke Management LTD boosted its position in shares of BRP by 14.8% in the 4th quarter. Pembroke Management LTD now owns 621,168 shares of the company’s stock worth $52,234,000 after purchasing an additional 80,185 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of BRP by 4.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 160,289 shares of the company’s stock worth $8,464,000 after purchasing an additional 6,416 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of BRP in the 3rd quarter worth approximately $31,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BRP in the 3rd quarter worth approximately $211,000. Finally, ProVise Management Group LLC bought a new stake in shares of BRP in the 3rd quarter worth approximately $281,000. 30.52% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. TD Securities boosted their price target on BRP from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, November 26th. Royal Bank of Canada upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a research note on Thursday, November 26th. Zacks Investment Research lowered shares of BRP from a “hold” rating to a “sell” rating in a research note on Wednesday, February 17th. Finally, BMO Capital Markets boosted their target price on shares of BRP from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday, November 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. BRP currently has a consensus rating of “Buy” and an average target price of $69.11.
BRP (NASDAQ:DOOO) last issued its earnings results on Tuesday, November 24th. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.01 by $1.12. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. BRP had a net margin of 3.78% and a negative return on equity of 67.06%. As a group, analysts anticipate that BRP Inc. will post 3.95 earnings per share for the current fiscal year.
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.
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