Raymond James Financial Inc. Invests $916,000 in BRP Inc. (NASDAQ:DOOO)

Raymond James Financial Inc. purchased a new position in shares of BRP Inc. (NASDAQ:DOOO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,009 shares of the company's stock, valued at approximately $916,000.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock valued at $43,461,000 after buying an additional 214,626 shares in the last quarter. Addenda Capital Inc. increased its position in BRP by 10.5% in the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company's stock valued at $678,000 after acquiring an additional 1,265 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of BRP by 699.9% in the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock worth $3,875,000 after acquiring an additional 66,627 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of BRP by 14.0% in the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock worth $7,270,000 after acquiring an additional 16,379 shares during the last quarter. Finally, Alberta Investment Management Corp grew its stake in shares of BRP by 44.2% during the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock valued at $2,408,000 after purchasing an additional 14,500 shares during the last quarter.

BRP Trading Down 1.8 %

NASDAQ:DOOO opened at $33.91 on Tuesday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The business's 50-day simple moving average is $36.22 and its 200-day simple moving average is $44.60. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $74.00. The stock has a market capitalization of $2.48 billion, a PE ratio of 18.04 and a beta of 1.17.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. Sell-side analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a dividend of $0.1508 per share. This is a boost from BRP's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, April 4th. BRP's dividend payout ratio is currently -29.21%.

Wall Street Analysts Forecast Growth

DOOO has been the topic of several recent research reports. Robert W. Baird reiterated a "neutral" rating and issued a $43.00 price target (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. UBS Group decreased their price objective on BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Raymond James reissued a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. TD Securities restated a "hold" rating on shares of BRP in a research report on Thursday, March 27th. Finally, Baird R W downgraded shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.75.

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.

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