Aviso Financial Inc. Raises Position in BRP Inc. $DOOO

Key Points

• Aviso Financial Inc. increased its stake in BRP Inc. by 57.3% in Q1, now holding a position worth $710,000.
• Analysts have given BRP a consensus rating of "Moderate Buy" with a price target of $43.00, influenced by recent upgrades from several firms.
• BRP has recently increased its quarterly dividend to $0.1557, marking a positive change from the previous period, with an annualized yield of 1.1%.

Aviso Financial Inc. lifted its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 57.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,023 shares of the company's stock after buying an additional 7,655 shares during the quarter. Aviso Financial Inc.'s holdings in BRP were worth $710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in BRP by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company's stock worth $1,823,000 after purchasing an additional 293 shares during the last quarter. Jane Street Group LLC raised its holdings in BRP by 1.4% during the fourth quarter. Jane Street Group LLC now owns 65,470 shares of the company's stock worth $3,333,000 after purchasing an additional 933 shares during the last quarter. Addenda Capital Inc. raised its holdings in BRP by 10.3% during the first quarter. Addenda Capital Inc. now owns 14,699 shares of the company's stock worth $497,000 after purchasing an additional 1,368 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in BRP by 75.3% during the first quarter. Russell Investments Group Ltd. now owns 3,820 shares of the company's stock worth $129,000 after purchasing an additional 1,641 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in BRP during the fourth quarter worth $229,000.

BRP Trading Up 5.4%

DOOO stock traded up $3.01 during trading on Friday, reaching $58.39. 405,595 shares of the stock traded hands, compared to its average volume of 274,756. The business's 50 day moving average price is $51.06 and its 200-day moving average price is $42.86. BRP Inc. has a 52-week low of $31.78 and a 52-week high of $72.84. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58. The firm has a market capitalization of $4.26 billion, a PE ratio of -142.41 and a beta of 1.24.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. BRP had a positive return on equity of 54.71% and a negative net margin of 0.55%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, sell-side analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were given a dividend of $0.1557 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.1%. This is a boost from BRP's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 30th. BRP's dividend payout ratio (DPR) is presently -153.66%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DOOO shares. Wall Street Zen raised BRP from a "hold" rating to a "buy" rating in a report on Sunday, July 6th. Stifel Canada raised BRP from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 29th. Desjardins raised BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. TD Securities raised BRP from a "hold" rating to a "strong-buy" rating in a report on Friday, May 30th. Finally, Citigroup reissued a "neutral" rating and issued a $51.00 price target (up from $43.00) on shares of BRP in a report on Monday, June 16th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, BRP has an average rating of "Moderate Buy" and a consensus price target of $43.00.

About BRP

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.