Arrowstreet Capital Limited Partnership Has $56.95 Million Position in BRP Inc. $DOO

Key Points

• Arrowstreet Capital reduced its BRP position by 11.9% in the first quarter, selling 107,470 shares but retaining 792,290 shares valued at approximately $56.95 million.
• Analyst sentiment is mixed: BRP has four Buy and ten Hold ratings, resulting in an overall Hold consensus and an average price target of $83.00.
• BRP shares opened at $61.73, while the company recently paid a quarterly dividend of $0.25 per share, equivalent to a 1.6% annual yield.

Arrowstreet Capital Limited Partnership lessened its position in BRP Inc. (NASDAQ:DOO - Free Report) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 792,290 shares of the company's stock after selling 107,470 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.08% of BRP worth $56,952,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of BRP during the 4th quarter worth approximately $30,000. Signaturefd LLC bought a new stake in shares of BRP in the fourth quarter worth $43,000. Quadrant Capital Group LLC acquired a new position in BRP during the fourth quarter worth $89,000. PNC Financial Services Group Inc. acquired a new position in BRP during the fourth quarter worth $142,000. Finally, Intact Investment Management Inc. bought a new position in BRP in the fourth quarter valued at $156,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Canaccord Genuity Group cut shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. TD Securities restated a "hold" rating on shares of BRP in a report on Friday, May 29th. Citigroup lowered their target price on BRP from $75.00 to $74.00 and set a "buy" rating on the stock in a research report on Friday, May 29th. Seaport Research Partners cut BRP from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of BRP from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, BRP currently has an average rating of "Hold" and a consensus price target of $83.00.

BRP Stock Up 2.3%

DOO opened at $61.73 on Tuesday. The stock has a fifty day moving average of $59.39 and a 200-day moving average of $65.86. The company has a market capitalization of $4.53 billion, a P/E ratio of 23.29 and a beta of 0.89. BRP Inc. has a fifty-two week low of $48.67 and a fifty-two week high of $81.89. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP's dividend payout ratio (DPR) is currently 26.42%.

About BRP

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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