O Shaughnessy Asset Management LLC reduced its stake in shares of BRP Inc. (NASDAQ:DOOO) by 22.8% during the second quarter, Holdings Channel.com reports. The firm owned 10,747 shares of the company’s stock after selling 3,173 shares during the period. O Shaughnessy Asset Management LLC’s holdings in BRP were worth $841,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of DOOO. Bessemer Group Inc. acquired a new position in shares of BRP during the second quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale bought a new position in BRP during the second quarter valued at about $69,000. FORA Capital LLC bought a new position in BRP during the first quarter valued at about $131,000. Distillate Capital Partners LLC boosted its stake in BRP by 6.0% during the second quarter. Distillate Capital Partners LLC now owns 2,306 shares of the company’s stock valued at $181,000 after buying an additional 131 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in BRP during the first quarter valued at about $212,000. Institutional investors and hedge funds own 28.68% of the company’s stock.
DOOO has been the subject of several recent research reports. BMO Capital Markets raised shares of BRP from a “market perform” rating to an “outperform” rating and increased their target price for the company from $100.00 to $154.00 in a research note on Tuesday, September 7th. CIBC raised shares of BRP from a “neutral” rating to an “outperform” rating in a research note on Friday, September 3rd. Northcoast Research raised shares of BRP from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 11th. Zacks Investment Research raised BRP from a “sell” rating to a “hold” rating and set a $113.00 target price on the stock in a research report on Monday, September 6th. Finally, Raymond James lifted their target price on shares of BRP from C$122.00 to C$137.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 3rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $126.69.
BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, September 1st. The company reported $2.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $1.85. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.72 billion. BRP had a negative return on equity of 209.67% and a net margin of 12.76%. The firm’s revenue was up 54.4% compared to the same quarter last year. As a group, equities analysts forecast that BRP Inc. will post 7.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Thursday, September 30th will be given a $0.104 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, September 29th. BRP’s dividend payout ratio is 10.45%.
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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