PNC Financial Services Group Inc. Sells 1,075 Shares of BRP Inc. (NASDAQ:DOOO)

PNC Financial Services Group Inc. lowered its position in shares of BRP Inc. (NASDAQ:DOOO) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,220 shares of the company’s stock after selling 1,075 shares during the period. PNC Financial Services Group Inc.’s holdings in BRP were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DOOO. Scotia Capital Inc. grew its holdings in BRP by 1.5% in the 4th quarter. Scotia Capital Inc. now owns 22,246 shares of the company’s stock valued at $1,588,000 after buying an additional 318 shares in the last quarter. Royal London Asset Management Ltd. increased its position in BRP by 31.4% during the third quarter. Royal London Asset Management Ltd. now owns 1,717 shares of the company’s stock worth $130,000 after acquiring an additional 410 shares during the period. Barclays PLC raised its stake in BRP by 232.5% in the 3rd quarter. Barclays PLC now owns 971 shares of the company’s stock worth $73,000 after purchasing an additional 679 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in BRP by 0.8% in the 4th quarter. 1832 Asset Management L.P. now owns 98,871 shares of the company’s stock valued at $7,088,000 after purchasing an additional 758 shares during the period. Finally, Citigroup Inc. boosted its holdings in BRP by 34.9% in the 3rd quarter. Citigroup Inc. now owns 8,539 shares of the company’s stock valued at $649,000 after purchasing an additional 2,211 shares during the period.

BRP Trading Up 1.1 %

Shares of DOOO stock opened at $64.03 on Friday. BRP Inc. has a fifty-two week low of $57.15 and a fifty-two week high of $92.74. The stock’s fifty day moving average price is $66.05 and its two-hundred day moving average price is $66.81. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.46 and a current ratio of 1.35. The company has a market cap of $4.75 billion, a PE ratio of 11.58 and a beta of 2.09.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, May 31st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. BRP had a return on equity of 101.72% and a net margin of 5.87%. Equities analysts predict that BRP Inc. will post 4.49 EPS for the current fiscal year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, June 28th. BRP’s dividend payout ratio is 11.21%.

Wall Street Analysts Forecast Growth

DOOO has been the subject of a number of analyst reports. CIBC dropped their price target on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a research report on Monday, June 3rd. Desjardins lifted their price objective on BRP from $112.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Raymond James cut their target price on BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.50.

About BRP

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.