Cowen Investment Management LLC Acquires Shares of 20,000 BRP Inc. (NASDAQ:DOOO)

Cowen Investment Management LLC acquired a new stake in shares of BRP Inc. (NASDAQ:DOOO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 20,000 shares of the company’s stock, valued at approximately $1,565,000.

A number of other institutional investors also recently modified their holdings of DOOO. Alberta Investment Management Corp grew its position in shares of BRP by 3.7% in the 1st quarter. Alberta Investment Management Corp now owns 272,301 shares of the company’s stock worth $23,609,000 after buying an additional 9,701 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of BRP in the 2nd quarter worth about $69,000. Ameriprise Financial Inc. purchased a new stake in shares of BRP in the 1st quarter worth about $4,094,000. Dimensional Fund Advisors LP grew its position in shares of BRP by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,858 shares of the company’s stock worth $584,000 after buying an additional 781 shares during the period. Finally, Man Group plc purchased a new stake in shares of BRP in the 1st quarter worth about $2,688,000. 28.68% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. Northcoast Research raised shares of BRP from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 11th. Desjardins upped their price target on shares of BRP from C$131.00 to C$150.00 and gave the stock a “buy” rating in a research note on Tuesday, September 7th. Stifel Nicolaus upped their price target on shares of BRP from C$125.00 to C$150.00 and gave the stock a “buy” rating in a research note on Friday, September 3rd. BMO Capital Markets upgraded shares of BRP from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $154.00 in a research note on Tuesday, September 7th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $98.00 price target on shares of BRP in a research note on Monday, June 28th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $126.69.

Shares of NASDAQ:DOOO traded up $2.57 during trading on Wednesday, hitting $95.37. The company’s stock had a trading volume of 2,702 shares, compared to its average volume of 98,535. The company has a 50-day moving average of $86.66 and a 200-day moving average of $84.33. BRP Inc. has a 12 month low of $46.90 and a 12 month high of $102.96. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 11.41 and a beta of 3.00.

BRP (NASDAQ:DOOO) last released its earnings results on Wednesday, September 1st. The company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $1.85. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.72 billion. BRP had a net margin of 12.76% and a negative return on equity of 209.67%. The firm’s quarterly revenue was up 54.4% compared to the same quarter last year. On average, equities research analysts forecast that BRP Inc. will post 7.33 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Thursday, September 30th will be issued a $0.104 dividend. This represents a $0.42 annualized dividend and a yield of 0.44%. The ex-dividend date is Wednesday, September 29th. BRP’s dividend payout ratio is 10.45%.

BRP Company Profile

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

Read More: Understanding dividend yield and dividend payout ratio

Institutional Ownership by Quarter for BRP (NASDAQ:DOOO)

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