Principal Financial Group Inc. Cuts Stock Holdings in BRP Inc. (NASDAQ:DOOO)

Principal Financial Group Inc. lowered its stake in BRP Inc. (NASDAQ:DOOO) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,960 shares of the company’s stock after selling 7,390 shares during the period. Principal Financial Group Inc.’s holdings in BRP were worth $15,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOOO. Goldman Sachs Group Inc. lifted its position in BRP by 35.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock valued at $50,975,000 after purchasing an additional 184,313 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in BRP by 539.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock valued at $40,105,000 after buying an additional 471,986 shares during the last quarter. QV Investors Inc. purchased a new stake in BRP during the 2nd quarter valued at $28,142,000. Norges Bank bought a new stake in BRP in the 4th quarter worth $30,666,000. Finally, National Bank of Canada FI increased its position in shares of BRP by 17.6% in the first quarter. National Bank of Canada FI now owns 422,358 shares of the company’s stock valued at $29,664,000 after acquiring an additional 63,060 shares during the period.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup raised their target price on BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. CIBC decreased their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a report on Monday, June 3rd. Finally, National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Four 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.75.

BRP Stock Performance

Shares of BRP stock opened at $68.89 on Thursday. The business has a fifty day simple moving average of $68.15 and a two-hundred day simple moving average of $67.05. The firm has a market capitalization of $5.11 billion, a P/E ratio of 12.46 and a beta of 2.07. The company has a current ratio of 1.35, a quick ratio of 0.46 and a debt-to-equity ratio of 4.23. BRP Inc. has a 12 month low of $57.15 and a 12 month high of $79.84.

BRP Company 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.