CIBC Asset Management Inc Makes New $23.76 Million Investment in BRP Inc. $DOO

CIBC Asset Management Inc purchased a new position in shares of BRP Inc. (NASDAQ:DOO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 328,020 shares of the company’s stock, valued at approximately $23,758,000. CIBC Asset Management Inc owned approximately 0.45% of BRP as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Signaturefd LLC bought a new position in BRP in the fourth quarter valued at $43,000. PNC Financial Services Group Inc. bought a new stake in BRP during the 4th quarter worth about $142,000. Intact Investment Management Inc. acquired a new position in shares of BRP during the 4th quarter worth about $156,000. DekaBank Deutsche Girozentrale acquired a new position in shares of BRP during the 4th quarter worth about $284,000. Finally, Annex Advisory Services LLC bought a new position in shares of BRP in the 4th quarter valued at about $279,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DOO shares. Scotiabank reaffirmed a “sector perform” rating on shares of BRP in a research report on Friday, May 29th. Zacks Research downgraded BRP from a “hold” rating to a “strong sell” rating in a report on Monday. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of BRP in a research report on Friday, May 29th. Finally, UBS Group reiterated a “neutral” rating on shares of BRP in a research note on Friday, April 24th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BRP currently has a consensus rating of “Hold” and a consensus target price of $85.33.

BRP Stock Performance

Shares of DOO opened at $62.82 on Friday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 23.71 and a beta of 0.89. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30. BRP Inc. has a 52 week low of $46.06 and a 52 week high of $81.89. The firm has a 50-day moving average of $61.27.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. BRP’s dividend payout ratio is presently 27.17%.

BRP Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.