Capital World Investors Buys 100,000 Shares of BRP Inc. $DOOO

Key Points

• Capital World Investors increased its stake in BRP Inc. (NASDAQ:DOOO) by 4.5% in Q3, buying an additional 100,000 shares to hold 2,323,013 shares (3.18% of the company) worth about $141.25 million.
• Other institutional activity includes Goldman Sachs boosting its position by 144.4% to 723,443 shares, reflecting rising institutional interest in BRP.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and a $84.40 consensus target, while RBC raised its price target to $131 and several firms issued Buy/Strong Buy ratings.

Capital World Investors boosted its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,323,013 shares of the company's stock after acquiring an additional 100,000 shares during the period. Capital World Investors owned 3.18% of BRP worth $141,247,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of BRP during the 1st quarter worth approximately $207,000. Jones Financial Companies Lllp grew its holdings in BRP by 28,660.0% during the first quarter. Jones Financial Companies Lllp now owns 21,570 shares of the company's stock valued at $729,000 after purchasing an additional 21,495 shares during the period. Goldman Sachs Group Inc. grew its holdings in BRP by 144.4% during the first quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company's stock valued at $24,460,000 after purchasing an additional 427,434 shares during the period. Jane Street Group LLC increased its position in BRP by 110.9% in the first quarter. Jane Street Group LLC now owns 138,051 shares of the company's stock worth $4,663,000 after buying an additional 72,581 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in BRP in the first quarter worth $70,000.

BRP Trading Up 0.5%

Shares of DOOO opened at $65.91 on Thursday. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $78.07. The stock has a market cap of $4.81 billion, a PE ratio of 178.14 and a beta of 1.26. The company has a quick ratio of 0.49, a current ratio of 1.23 and a debt-to-equity ratio of 4.31. The business's 50-day moving average price is $75.84 and its 200-day moving average price is $69.83.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DOOO shares. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of BRP in a research note on Friday, December 5th. Loop Capital started coverage on shares of BRP in a report on Thursday, November 13th. They set a "buy" rating on the stock. Weiss Ratings upgraded shares of BRP from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, December 8th. Wall Street Zen upgraded shares of BRP from a "buy" rating to a "strong-buy" rating in a research note on Saturday, December 6th. Finally, Royal Bank Of Canada boosted their price target on shares of BRP from $107.00 to $131.00 and gave the company an "outperform" rating in a research report on Friday, December 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.40.

BRP Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company's diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP's product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.

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