Polar Asset Management Partners Inc. purchased a new stake in shares of BRP Inc (NASDAQ:DOOO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $1,434,000.
Other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of BRP in the first quarter worth approximately $391,000. Highstreet Asset Management Inc. grew its holdings in shares of BRP by 3.4% in the first quarter. Highstreet Asset Management Inc. now owns 71,617 shares of the company’s stock worth $1,987,000 after purchasing an additional 2,368 shares during the last quarter. Annex Advisory Services LLC bought a new position in shares of BRP in the second quarter worth approximately $208,000. JPMorgan Chase & Co. grew its holdings in shares of BRP by 562.8% in the second quarter. JPMorgan Chase & Co. now owns 382,323 shares of the company’s stock worth $13,632,000 after purchasing an additional 324,639 shares during the last quarter. Finally, AGF Investments Inc. grew its holdings in shares of BRP by 29.1% in the second quarter. AGF Investments Inc. now owns 356,581 shares of the company’s stock worth $12,743,000 after purchasing an additional 80,455 shares during the last quarter. Hedge funds and other institutional investors own 27.70% of the company’s stock.
Several research analysts have recently issued reports on the stock. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Friday, August 30th. Desjardins set a $66.00 target price on shares of BRP and gave the stock a “buy” rating in a report on Friday, August 30th. ValuEngine upgraded shares of BRP from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research upgraded shares of BRP from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $45.69.
BRP (NASDAQ:DOOO) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.01 billion. BRP had a net margin of 5.11% and a negative return on equity of 73.27%. On average, sell-side analysts forecast that BRP Inc will post 2.79 EPS for the current fiscal year.
The business also recently declared a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.0752 dividend. This represents a yield of 0.8%. The ex-dividend date is Thursday, September 26th. BRP’s dividend payout ratio (DPR) is currently 13.03%.
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.
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