Royal Bank of Canada Trims Stock Position in BRP Inc. $DOOO

Royal Bank of Canada lessened its holdings in BRP Inc. (NASDAQ:DOOO) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 304,651 shares of the company’s stock after selling 14,912 shares during the period. Royal Bank of Canada owned 0.42% of BRP worth $10,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of BRP by 10.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,158 shares of the company’s stock valued at $3,685,000 after purchasing an additional 10,004 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of BRP by 31.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company’s stock valued at $2,193,000 after purchasing an additional 15,447 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of BRP by 5.5% in the first quarter. Fiera Capital Corp now owns 135,330 shares of the company’s stock valued at $4,574,000 after purchasing an additional 7,082 shares in the last quarter. Turtle Creek Asset Management Inc. lifted its holdings in shares of BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after purchasing an additional 668,607 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of BRP by 20.0% in the first quarter. National Bank of Canada FI now owns 495,657 shares of the company’s stock valued at $16,731,000 after purchasing an additional 82,723 shares in the last quarter.

Analyst Upgrades and Downgrades

DOOO has been the topic of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of BRP in a report on Tuesday, September 2nd. National Bankshares set a $105.00 price objective on shares of BRP and gave the company a “sector perform” rating in a research report on Tuesday, September 2nd. Cibc World Mkts raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 1st. Wall Street Zen raised shares of BRP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of BRP in a research report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, BRP has a consensus rating of “Moderate Buy” and an average target price of $71.50.

BRP Stock Performance

Shares of DOOO stock opened at $65.13 on Friday. BRP Inc. has a one year low of $31.78 and a one year high of $68.42. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.55 and a current ratio of 1.34. The company has a 50 day moving average price of $55.03 and a 200 day moving average price of $44.82. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -271.38 and a beta of 1.19.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, August 29th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.33 by $0.34. BRP had a negative net margin of 0.34% and a positive return on equity of 61.26%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Sell-side analysts anticipate that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from BRP’s previous quarterly dividend of $0.16. This represents a $0.86 annualized dividend and a dividend yield of 1.3%. BRP’s dividend payout ratio (DPR) is currently -262.50%.

BRP 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.