Raymond James & Associates Grows Stock Position in BRP Inc. (NASDAQ:DOOO)

Raymond James & Associates boosted its stake in BRP Inc. (NASDAQ:DOOO) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,027 shares of the company’s stock after acquiring an additional 3,074 shares during the quarter. Raymond James & Associates’ holdings in BRP were worth $1,938,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in BRP by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,282,737 shares of the company’s stock worth $97,308,000 after acquiring an additional 18,859 shares during the period. Citigroup Inc. boosted its stake in shares of BRP by 34.9% during the 3rd quarter. Citigroup Inc. now owns 8,539 shares of the company’s stock valued at $649,000 after buying an additional 2,211 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of BRP by 136.5% during the 3rd quarter. Wellington Management Group LLP now owns 19,573 shares of the company’s stock valued at $1,488,000 after buying an additional 11,298 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of BRP by 3.1% during the 3rd quarter. Deutsche Bank AG now owns 23,451 shares of the company’s stock valued at $1,779,000 after buying an additional 696 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of BRP by 100.4% during the 3rd quarter. Morgan Stanley now owns 628,044 shares of the company’s stock valued at $47,643,000 after buying an additional 314,625 shares during the last quarter.

BRP Price Performance

Shares of NASDAQ DOOO opened at $69.61 on Thursday. BRP Inc. has a 1-year low of $57.15 and a 1-year high of $92.74. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.41 and a quick ratio of 0.55. The business’s fifty day moving average price is $66.80 and its two-hundred day moving average price is $68.42. The firm has a market capitalization of $5.28 billion, a PE ratio of 9.92 and a beta of 2.12.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a $0.1545 dividend. This represents a $0.62 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, April 5th. BRP’s dividend payout ratio is presently 8.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James reduced their target price on BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a research note on Monday, April 1st. TheStreet cut BRP from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Desjardins raised their price objective on BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, CIBC raised their price objective on BRP from $106.00 to $110.00 and gave the stock an “outperformer” rating in a research note on Monday, April 1st. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BRP presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.78.

BRP Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.