ExodusPoint Capital Management LP Purchases New Stake in BRP Inc. (NASDAQ:DOOO)

ExodusPoint Capital Management LP acquired a new position in shares of BRP Inc. (NASDAQ:DOOO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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. Signaturefd LLC raised its holdings in shares of BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after acquiring an additional 903 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of BRP in the fourth quarter worth approximately $77,000. Intact Investment Management Inc. bought a new position in shares of BRP in the fourth quarter valued at approximately $148,000. Public Employees Retirement System of Ohio purchased a new position in shares of BRP during the third quarter valued at approximately $178,000. Finally, Quantbot Technologies LP grew its holdings in BRP by 26.6% during the fourth quarter. Quantbot Technologies LP now owns 4,844 shares of the company’s stock worth $246,000 after buying an additional 1,017 shares in the last quarter.

Analyst Upgrades and Downgrades

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

BRP Trading Up 1.6 %

Shares of DOOO stock opened at $36.65 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The firm has a market cap of $2.68 billion, a P/E ratio of 19.49 and a beta of 1.71. The company has a 50 day moving average of $38.97 and a 200-day moving average of $47.44. BRP Inc. has a 12-month low of $32.24 and a 12-month high of $74.00.

BRP (NASDAQ:DOOO) last released its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. Sell-side analysts anticipate that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

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

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.