BRP Inc. (NASDAQ:DOOO) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its position in BRP Inc. (NASDAQ:DOOO) by 3.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 150,292 shares of the company’s stock after acquiring an additional 5,512 shares during the quarter. Lazard Asset Management LLC’s holdings in BRP were worth $10,083,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DOOO. UniSuper Management Pty Ltd lifted its holdings in BRP by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in shares of BRP in the 1st quarter valued at about $50,000. Clearbridge Investments LLC acquired a new stake in shares of BRP in the 4th quarter valued at about $211,000. NewEdge Wealth LLC acquired a new stake in shares of BRP in the 4th quarter valued at about $215,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of BRP in the 4th quarter valued at about $215,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DOOO shares. Citigroup boosted their price objective on shares of BRP from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. CIBC lowered their price objective on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a research report on Monday, June 3rd. Desjardins boosted their price objective on shares of BRP from $112.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Raymond James lowered their price objective on shares of BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, BRP has a consensus rating of “Moderate Buy” and an average target price of $122.75.

BRP Stock Performance

NASDAQ DOOO traded up $3.89 on Friday, hitting $72.23. The stock had a trading volume of 88,811 shares, compared to its average volume of 92,771. The company’s 50-day moving average is $65.23 and its two-hundred day moving average is $66.57. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 4.23. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 13.06 and a beta of 2.06. BRP Inc. has a one year low of $57.15 and a one year high of $92.74.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Friday, May 31st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. BRP had a net margin of 5.87% and a return on equity of 101.72%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. On average, analysts expect that BRP Inc. will post 4.49 earnings per share for the current year.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, June 28th. BRP’s dividend payout ratio is presently 11.03%.

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.