Lazard Asset Management LLC Increases Stock Position in BRP Inc. $DOO

Key Points

• Lazard Asset Management increased its BRP stake by 324.1% in the first quarter, bringing its holdings to 152,035 shares valued at approximately $10.9 million. Several other major institutional investors also established new positions.
• BRP shares opened at $61.14, with a market capitalization of $4.48 billion and a 52-week trading range of $48.67 to $81.89. The company pays a quarterly dividend of $0.25, or $1.00 annually, yielding approximately 1.6%.
• Analyst sentiment is largely cautious: four analysts rate BRP a Buy and ten rate it Hold, resulting in an average rating of Hold and an average price target of $83.00.

Lazard Asset Management LLC increased its stake in shares of BRP Inc. (NASDAQ:DOO - Free Report) by 324.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,035 shares of the company's stock after purchasing an additional 116,189 shares during the period. Lazard Asset Management LLC owned approximately 0.21% of BRP worth $10,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new stake in BRP in the fourth quarter worth approximately $207,651,000. Price T Rowe Associates Inc. MD bought a new stake in BRP in the 4th quarter worth approximately $169,341,000. Capital World Investors purchased a new stake in BRP during the 4th quarter valued at $158,763,000. FIL Ltd purchased a new stake in BRP during the 4th quarter valued at $123,110,000. Finally, Vanguard Group Inc. purchased a new position in shares of BRP in the 4th quarter worth $98,153,000.

BRP Price Performance

Shares of BRP stock opened at $61.14 on Thursday. The stock has a market cap of $4.48 billion, a P/E ratio of 23.07 and a beta of 0.89. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30. The stock's fifty day moving average is $59.68 and its 200 day moving average is $65.71. BRP Inc. has a one year low of $48.67 and a one year high of $81.89.

BRP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were given a $0.25 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. BRP's dividend payout ratio is presently 26.42%.

Analyst Ratings Changes

A number of analysts recently commented on DOO shares. UBS Group reduced their price objective on BRP from $78.00 to $68.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. Seaport Research Partners cut BRP from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 15th. Raymond James Financial lowered shares of BRP from a "strong-buy" rating to a "market perform" rating in a research report on Friday, April 24th. Scotiabank reaffirmed a "sector perform" rating on shares of BRP in a research report on Friday, July 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of BRP in a research note on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $83.00.

BRP Company Profile

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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