BRP Inc. (NASDAQ:DOOO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of BRP Inc. (NASDAQ:DOOO) by 69.8% in the 1st quarter, HoldingsChannel reports. The firm owned 36,576 shares of the company’s stock after selling 84,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BRP were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Bank of Canada FI grew its stake in BRP by 20.0% during the 1st quarter. National Bank of Canada FI now owns 495,657 shares of the company’s stock worth $16,731,000 after purchasing an additional 82,723 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in BRP by 31.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company’s stock worth $2,193,000 after purchasing an additional 15,447 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BRP by 10.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,158 shares of the company’s stock worth $3,685,000 after acquiring an additional 10,004 shares in the last quarter. Fiera Capital Corp boosted its position in shares of BRP by 5.5% during the 1st quarter. Fiera Capital Corp now owns 135,330 shares of the company’s stock worth $4,574,000 after acquiring an additional 7,082 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of BRP by 15.0% during the 1st quarter. Mackenzie Financial Corp now owns 1,884,728 shares of the company’s stock worth $63,636,000 after acquiring an additional 245,463 shares in the last quarter.

BRP Stock Down 1.7%

BRP stock opened at $56.60 on Friday. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $72.84. The company has a debt-to-equity ratio of 5.85, a quick ratio of 0.58 and a current ratio of 1.34. The company has a market capitalization of $4.13 billion, a P/E ratio of -138.05 and a beta of 1.24. The stock has a 50-day simple moving average of $50.17 and a 200-day simple moving average of $42.47.

BRP (NASDAQ:DOOO) last posted its earnings results on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. BRP had a positive return on equity of 54.71% and a negative net margin of 0.55%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. Equities research analysts expect that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were paid a dividend of $0.1557 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.62 annualized dividend and a yield of 1.1%. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio (DPR) is currently -153.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Canada raised BRP from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 29th. UBS Group lowered their price objective on BRP from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. TD Securities raised BRP from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 30th. Wall Street Zen raised BRP from a “hold” rating to a “buy” rating in a research report on Sunday, July 6th. Finally, Desjardins raised BRP from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, BRP currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

BRP Company Profile

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.