Landscape Capital Management L.L.C. Grows Stock Position in BRP Inc. $DOOO

Key Points

• Landscape Capital Management L.L.C. increased its holdings in BRP Inc. by 52.6%, acquiring an additional 28,123 shares for a total of 81,615 shares, valued at approximately $2.76 million.
• BRP's stock recently traded at $57.49 with a 1-year range between $31.78 and $72.52, indicating volatility in its stock price.
• Recent analyst upgrades include ratings from Stifel Canada and TD Securities lifting BRP's status to strong-buy, reflecting growing optimism about the company’s performance.

Landscape Capital Management L.L.C. grew its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 52.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,615 shares of the company's stock after purchasing an additional 28,123 shares during the quarter. Landscape Capital Management L.L.C. owned 0.11% of BRP worth $2,759,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in BRP during the fourth quarter worth approximately $916,000. Barclays PLC grew its position in shares of BRP by 529.1% during the fourth quarter. Barclays PLC now owns 8,707 shares of the company's stock worth $443,000 after acquiring an additional 7,323 shares during the last quarter. Dimensional Fund Advisors LP grew its position in BRP by 16.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 171,554 shares of the company's stock valued at $8,727,000 after buying an additional 24,171 shares during the last quarter. Jane Street Group LLC grew its position in BRP by 1.4% in the 4th quarter. Jane Street Group LLC now owns 65,470 shares of the company's stock valued at $3,333,000 after buying an additional 933 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of BRP by 45.0% during the 4th quarter. Millennium Management LLC now owns 16,339 shares of the company's stock worth $832,000 after purchasing an additional 5,072 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOOO. Wall Street Zen upgraded shares of BRP from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Stifel Canada raised BRP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 29th. CIBC raised BRP from a "neutral" rating to a "sector outperform" rating in a research note on Tuesday. Citigroup reaffirmed a "neutral" rating and set a $51.00 price target (up previously from $43.00) on shares of BRP in a research note on Monday, June 16th. Finally, Desjardins raised shares of BRP from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

BRP Trading Up 5.9%

Shares of NASDAQ DOOO traded up $3.69 on Tuesday, reaching $66.67. 660,916 shares of the company traded hands, compared to its average volume of 241,913. The company has a 50 day moving average of $52.43 and a 200 day moving average of $43.55. The stock has a market capitalization of $4.87 billion, a PE ratio of -278.10 and a beta of 1.19. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $72.21. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a dividend of $0.215 per share. This is a boost from BRP's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.86 dividend on an annualized basis and a yield of 1.3%. BRP's dividend payout ratio is currently -262.50%.

BRP 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.