ExodusPoint Capital Management LP Buys Shares of 12,500 BRP Inc. (NASDAQ:DOOO)

ExodusPoint Capital Management LP purchased a new position in BRP Inc. (NASDAQ:DOOO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,500 shares of the company’s stock, valued at approximately $636,000.

Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after acquiring an additional 16,379 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in BRP by 44.2% in the 4th 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 period. Van ECK Associates Corp grew its position in shares of BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock valued at $3,875,000 after purchasing an additional 66,627 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BRP by 8.3% in the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after purchasing an additional 15,892 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of BRP by 25.0% in the fourth quarter. Alliancebernstein L.P. now owns 388,568 shares of the company’s stock worth $19,766,000 after buying an additional 77,699 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DOOO shares. Baird R W lowered BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird restated a “neutral” rating and issued a $43.00 price objective (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Citigroup raised shares of BRP from a “sell” rating to a “neutral” rating and raised their target price for the company from $27.00 to $37.00 in a research note on Friday, April 4th. Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Finally, TD Securities reiterated a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Ten investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.25.

BRP Price Performance

DOOO stock opened at $36.65 on Friday. The firm has a market cap of $2.68 billion, a P/E ratio of 19.49 and a beta of 1.71. The firm’s fifty day moving average is $38.97 and its 200 day moving average is $47.44. BRP Inc. has a 52 week low of $32.24 and a 52 week high of $74.00. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Research analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a $0.1508 dividend. This is a boost from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, April 4th. BRP’s payout ratio is -29.21%.

BRP Company 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.