Alliancebernstein L.P. Grows Stake in BRP Inc. $DOOO

Key Points

• Alliancebernstein L.P. raised its stake in BRP Inc. by 14.2%, acquiring an additional 55,336 shares, bringing its total holdings to 443,904 shares.
• BRP's stock has received multiple positive ratings from analysts, including a "strong-buy" upgrade from Zacks Research, and has an average price target of $71.50.
• The company recently declared a quarterly dividend increase from $0.16 to $0.215, representing an annualized yield of 1.3%.

Alliancebernstein L.P. boosted its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 14.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 443,904 shares of the company's stock after buying an additional 55,336 shares during the quarter. Alliancebernstein L.P. owned approximately 0.61% of BRP worth $15,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of DOOO. Millennium Management LLC increased its position in BRP by 45.0% in the fourth quarter. Millennium Management LLC now owns 16,339 shares of the company's stock worth $832,000 after buying an additional 5,072 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in BRP in the fourth quarter worth $229,000. Quantinno Capital Management LP purchased a new stake in BRP in the fourth quarter worth $298,000. Systematic Financial Management LP increased its position in BRP by 5.4% in the fourth quarter. Systematic Financial Management LP now owns 202,425 shares of the company's stock worth $10,297,000 after buying an additional 10,341 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. increased its position in BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company's stock worth $151,118,000 after buying an additional 668,607 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cibc World Mkts upgraded BRP from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. Citigroup lifted their price target on BRP from $51.00 to $68.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. TD Securities reiterated a "buy" rating on shares of BRP in a research report on Tuesday, September 2nd. Wall Street Zen upgraded BRP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Finally, Desjardins upgraded BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $71.50.

BRP Stock Down 1.7%

DOOO traded down $1.09 during trading on Wednesday, hitting $63.96. 321,380 shares of the company's stock traded hands, compared to its average volume of 360,938. The company's 50 day simple moving average is $56.10 and its two-hundred day simple moving average is $45.49. The company has a current ratio of 1.34, a quick ratio of 0.55 and a debt-to-equity ratio of 5.54. BRP Inc. has a 12-month low of $31.78 and a 12-month high of $68.42. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of -266.50 and a beta of 1.19.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Friday, August 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.34. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.77 billion. BRP had a positive return on equity of 61.26% and a negative net margin of 0.34%. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a $0.215 dividend. This is an increase from BRP's previous quarterly dividend of $0.16. This represents a $0.86 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, September 30th. BRP's dividend payout ratio (DPR) is -262.50%.

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.