Van ECK Associates Corp Sells 483 Shares of BRP Inc. (NASDAQ:DOOO)

Van ECK Associates Corp trimmed its position in shares of BRP Inc. (NASDAQ:DOOO) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,030 shares of the company’s stock after selling 483 shares during the quarter. Van ECK Associates Corp’s holdings in BRP were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of 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 period. The Manufacturers Life Insurance Company lifted its holdings in shares of BRP by 539.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock valued at $40,105,000 after buying an additional 471,986 shares during the period. QV Investors Inc. bought a new position in shares of BRP during the 2nd quarter valued at $28,142,000. Norges Bank bought a new position in shares of BRP during the 4th quarter valued at $30,666,000. Finally, National Bank of Canada FI increased its stake in shares of BRP by 17.6% in the 1st quarter. National Bank of Canada FI now owns 422,358 shares of the company’s stock worth $29,664,000 after purchasing an additional 63,060 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. CIBC reduced their price objective on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a research note on Monday, June 3rd. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup upped their price objective on BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.40.

BRP Trading Down 4.8 %

Shares of DOOO stock opened at $62.91 on Monday. BRP Inc. has a 52-week low of $57.15 and a 52-week high of $79.84. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.46 and a current ratio of 1.35. The firm has a market capitalization of $4.66 billion, a PE ratio of 11.38 and a beta of 2.07. The stock has a fifty day simple moving average of $68.18 and a two-hundred day simple moving average of $67.01.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. BRP had a return on equity of 101.72% and a net margin of 5.87%. On average, analysts predict that BRP Inc. will post 4.33 EPS for the current fiscal year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.152 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.97%. BRP’s payout ratio is 11.03%.

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.