Cibc World Market Inc. Sells 159,425 Shares of BRP Inc. $DOOO

Cibc World Market Inc. lessened its holdings in BRP Inc. (NASDAQ:DOOO) by 49.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,027 shares of the company’s stock after selling 159,425 shares during the quarter. Cibc World Market Inc. owned 0.22% of BRP worth $9,789,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in BRP by 905.8% during the 2nd quarter. Osaic Holdings Inc. now owns 694 shares of the company’s stock worth $34,000 after buying an additional 625 shares in the last quarter. Sagard Holdings Management Inc. acquired a new stake in shares of BRP in the second quarter valued at about $41,000. Raymond James Financial Inc. bought a new stake in BRP during the second quarter worth about $60,000. Acadian Asset Management LLC acquired a new position in BRP during the first quarter valued at approximately $70,000. Finally, Plato Investment Management Ltd bought a new position in BRP in the third quarter valued at approximately $134,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Weiss Ratings raised BRP from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, December 8th. Desjardins reissued a “buy” rating on shares of BRP in a research report on Friday, December 5th. Loop Capital assumed coverage on shares of BRP in a report on Thursday, November 13th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of BRP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of BRP in a research report on Friday, December 5th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.40.

BRP Stock Performance

Shares of DOOO stock opened at $76.42 on Friday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 206.54 and a beta of 1.26. 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 50-day simple moving average of $75.63 and a 200 day simple moving average of $67.12. BRP Inc. has a 52 week low of $31.78 and a 52 week high of $78.07.

BRP (NASDAQ:DOOO) last released its quarterly 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 net margin of 0.45% and a return on equity of 67.30%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.50 billion. BRP’s quarterly revenue was up 14.0% on a year-over-year basis. BRP has set its FY 2026 guidance at 3.600-3.600 EPS. On average, sell-side analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Announces Dividend

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

About BRP

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.