Engineers Gate Manager LP Has $2.17 Million Stake in BRP Inc. $DOO

Engineers Gate Manager LP trimmed its stake in BRP Inc. (NASDAQ:DOO) by 77.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,519 shares of the company’s stock after selling 123,713 shares during the quarter. Engineers Gate Manager LP’s holdings in BRP were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in DOO. Caitong International Asset Management Co. Ltd boosted its holdings in shares of BRP by 4,070.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $43,000 after purchasing an additional 692 shares during the period. Nykredit A S acquired a new position in BRP in the 2nd quarter valued at approximately $61,000. NewEdge Advisors LLC purchased a new stake in BRP in the 2nd quarter worth approximately $79,000. State of Wyoming lifted its position in BRP by 21.4% in the 2nd quarter. State of Wyoming now owns 2,317 shares of the company’s stock worth $141,000 after buying an additional 408 shares in the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in BRP in the 2nd quarter worth approximately $214,000.

Analysts Set New Price Targets

Several research firms have recently commented on DOO. National Bank Financial upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 3rd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of BRP in a report on Friday, May 29th. UBS Group cut their price objective on BRP from $78.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Scotiabank reissued a “sector perform” rating on shares of BRP in a research report on Friday, September 4th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of BRP in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BRP currently has an average rating of “Moderate Buy” and an average price target of $84.00.

BRP Price Performance

NASDAQ DOO opened at $60.69 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 1.19 and a debt-to-equity ratio of 7.31. The stock has a market capitalization of $4.32 billion, a PE ratio of 55.17 and a beta of 0.88. BRP Inc. has a 12-month low of $48.83 and a 12-month high of $81.89. The company has a 50 day moving average price of $62.50 and a two-hundred day moving average price of $62.37.

BRP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. BRP’s dividend payout ratio (DPR) is currently 65.45%.

About BRP

BRP Inc is a Canadian manufacturer of powersports and recreational products. The company develops, manufactures, distributes and sells vehicles and related products through a portfolio of well-known brands, including Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am on-road and off-road vehicles, and Rotax engines and propulsion systems.

BRP also offers marine products through its boat brands, including Alumacraft, Manitou and Quintrex. Its product portfolio is supported by parts, accessories, apparel and other services designed to complement its vehicles and recreational equipment.

The company traces its origins to 1942, when Joseph-Armand Bombardier founded the business that developed the first Ski-Doo snowmobile.