Mackenzie Financial Corp Buys 209,576 Shares of BRP Inc. $DOOO

Key Points

• Mackenzie Financial Corp increased its BRP stake by 7.4%, buying 209,576 shares to own 3,057,000 shares (about 4.18%) valued at approximately $185.8 million.
• Other major institutions also adjusted positions—Capital World, Vanguard and Invesco added shares, Goldman Sachs boosted its holding by 144.4%, and QV Investors opened a new roughly $29.35 million position.
• Analysts are broadly positive: RBC raised its price target to $131, several firms issued buy/upgrades, and MarketBeat shows a consensus "Moderate Buy" with an average target of $84.40.

Mackenzie Financial Corp raised its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,057,000 shares of the company's stock after buying an additional 209,576 shares during the period. Mackenzie Financial Corp owned about 4.18% of BRP worth $185,836,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of BRP by 4.5% during the 3rd quarter. Capital World Investors now owns 2,323,013 shares of the company's stock valued at $141,247,000 after acquiring an additional 100,000 shares during the period. Vanguard Group Inc. increased its stake in shares of BRP by 8.1% in the third quarter. Vanguard Group Inc. now owns 1,372,256 shares of the company's stock valued at $83,437,000 after buying an additional 102,269 shares during the period. Invesco Ltd. lifted its position in shares of BRP by 6.8% in the 2nd quarter. Invesco Ltd. now owns 1,318,418 shares of the company's stock worth $63,904,000 after purchasing an additional 83,617 shares during the period. Goldman Sachs Group Inc. raised its position in shares of BRP by 144.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company's stock worth $24,460,000 after acquiring an additional 427,434 shares in the last quarter. Finally, QV Investors Inc. acquired a new position in BRP in the third quarter valued at approximately $29,351,000.

BRP Trading Down 0.1%

NASDAQ DOOO opened at $65.60 on Wednesday. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $78.07. 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 stock's 50 day moving average is $75.95 and its 200 day moving average is $69.86. The firm has a market capitalization of $4.79 billion, a PE ratio of 177.30 and a beta of 1.26.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised 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. TD Securities reiterated a "buy" rating on shares of BRP in a research note on Thursday, December 4th. Wall Street Zen raised shares of BRP from a "buy" rating to a "strong-buy" rating in a report on Saturday, December 6th. Loop Capital began coverage on shares of BRP in a research note on Thursday, November 13th. They issued a "buy" rating for the company. Finally, Desjardins restated a "buy" rating on shares of BRP in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, BRP presently has an average rating of "Moderate Buy" and an average target price of $84.40.

About BRP

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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