Addenda Capital Inc. Buys Shares of 16,536 BRP Inc. $DOO

Key Points

• Addenda Capital bought a new stake of 16,536 shares of BRP (NASDAQ:DOO) in Q4, valued at about $1.17 million, while Signaturefd purchased a smaller ~$43,000 stake.
• BRP raised its quarterly dividend to $0.25 (from $0.07), representing a $1.00 annualized payout and roughly a 1.3% yield; the ex-dividend date is April 10 and the payment date is April 24.
• Analysts are mixed but generally positive—MarketBeat shows a consensus rating of “Moderate Buy” with a $80.50 average price target, including recent upgrades like Wells Fargo’s overweight and Zacks’ strong-buy.

Addenda Capital Inc. bought a new stake in shares of BRP Inc. (NASDAQ:DOO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,536 shares of the company's stock, valued at approximately $1,170,000.

Separately, Signaturefd LLC bought a new stake in BRP during the 4th quarter valued at $43,000.

BRP Trading Up 2.8%

DOO opened at $74.57 on Thursday. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 25.63 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 3.92. BRP Inc. has a 12 month low of $31.78 and a 12 month high of $81.89. The stock has a fifty day moving average of $72.33.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 10th will be paid a dividend of $0.25 per share. This is a positive change from BRP's previous quarterly dividend of $0.07. The ex-dividend date is Friday, April 10th. This represents a $1.00 annualized dividend and a yield of 1.3%. BRP's dividend payout ratio (DPR) is presently 21.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of BRP in a research report on Monday, March 23rd. UBS Group lifted their target price on BRP from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, January 9th. Citigroup decreased their target price on BRP from $87.00 to $86.00 and set a "buy" rating for the company in a research report on Monday, March 30th. Wells Fargo & Company began coverage on BRP in a research report on Wednesday, March 11th. They issued an "overweight" rating for the company. Finally, Zacks Research raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, BRP currently has an average rating of "Moderate Buy" and a consensus price target of $80.50.

BRP Company 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.

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