Public Employees Retirement System of Ohio Purchases Shares of 2,996 BRP Inc. (NASDAQ:DOOO)

Public Employees Retirement System of Ohio acquired a new position in shares of BRP Inc. (NASDAQ:DOOO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,996 shares of the company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOOO. Systematic Financial Management LP increased its holdings in BRP by 3.0% during the 3rd quarter. Systematic Financial Management LP now owns 192,084 shares of the company’s stock worth $11,437,000 after purchasing an additional 5,562 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of BRP by 115.1% during the third quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company’s stock worth $1,124,000 after buying an additional 10,106 shares in the last quarter. De Lisle Partners LLP raised its position in BRP by 10.8% in the 3rd quarter. De Lisle Partners LLP now owns 27,605 shares of the company’s stock valued at $1,643,000 after buying an additional 2,697 shares during the last quarter. Quantbot Technologies LP raised its position in BRP by 9.7% in the 3rd quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after buying an additional 337 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after acquiring an additional 150,039 shares in the last quarter.

Wall Street Analysts Forecast Growth

DOOO has been the topic of a number of recent research reports. Desjardins downgraded shares of BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. UBS Group reduced their price objective on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Cibc World Mkts downgraded BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, September 9th. Finally, Citigroup lowered their price target on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $97.00.

BRP Stock Performance

DOOO opened at $52.59 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. BRP Inc. has a 12-month low of $46.85 and a 12-month high of $75.59. The business has a 50 day moving average of $50.85 and a 200-day moving average of $60.02. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 27.97 and a beta of 2.03.

BRP Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.1485 per share. This represents a $0.59 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, December 31st. BRP’s dividend payout ratio is 32.98%.

BRP Profile

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.