BRP Inc. $DOOO Holdings Cut by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in BRP Inc. (NASDAQ:DOOO) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,969 shares of the company’s stock after selling 16,943 shares during the period. CIBC Asset Management Inc owned 0.16% of BRP worth $7,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp boosted its position in BRP by 51.1% during the 2nd quarter. Mackenzie Financial Corp now owns 2,847,424 shares of the company’s stock valued at $138,302,000 after purchasing an additional 962,696 shares during the period. Invesco Ltd. boosted its holdings in shares of BRP by 6.8% during the second quarter. Invesco Ltd. now owns 1,318,418 shares of the company’s stock valued at $63,904,000 after acquiring an additional 83,617 shares during the period. Goldman Sachs Group Inc. grew its position in shares of BRP by 144.4% during the first quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company’s stock worth $24,460,000 after acquiring an additional 427,434 shares during the last quarter. QV Investors Inc. acquired a new stake in shares of BRP in the 3rd quarter worth about $29,351,000. Finally, Alliancebernstein L.P. lifted its position in BRP by 7.3% in the 2nd quarter. Alliancebernstein L.P. now owns 476,328 shares of the company’s stock valued at $23,088,000 after purchasing an additional 32,424 shares during the last quarter.

BRP Stock Down 0.1%

DOOO opened at $80.59 on Tuesday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.49 and a current ratio of 1.23. The company has a market capitalization of $5.89 billion, a PE ratio of 217.81 and a beta of 1.26. The stock’s fifty day moving average is $72.79 and its 200-day moving average is $64.51. BRP Inc. has a one year low of $31.78 and a one year high of $78.07.

BRP (NASDAQ:DOOO) last announced its earnings results on Thursday, December 4th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.27. BRP had a return on equity of 67.30% and a net margin of 0.45%.The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.50 billion. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. BRP has set its FY 2026 guidance at 3.600-3.600 EPS. On average, equities analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. BRP’s payout ratio is presently 164.86%.

Analyst Ratings Changes

Several research analysts have commented on the stock. CIBC restated an “outperform” rating on shares of BRP in a research report on Friday, December 5th. Zacks Research lowered BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Natl Bk Canada upgraded BRP from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Loop Capital started coverage on BRP in a research report on Thursday, November 13th. They set a “buy” rating for the company. Finally, Wall Street Zen raised BRP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BRP presently has a consensus rating of “Moderate Buy” and an average target price of $84.40.

BRP Company Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company’s diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP’s product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.