Raymond James & Associates Has $1.94 Million Holdings in BRP Inc. (NASDAQ:DOOO)

Raymond James & Associates lifted its position in shares of BRP Inc. (NASDAQ:DOOO) by 12.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,027 shares of the company’s stock after purchasing an additional 3,074 shares during the quarter. Raymond James & Associates’ holdings in BRP were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of DOOO. Invesco Ltd. grew its holdings in shares of BRP by 103.1% during the 1st quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock worth $65,671,000 after purchasing an additional 407,545 shares in the last quarter. Norges Bank acquired a new stake in shares of BRP during the 4th quarter worth approximately $28,986,000. Morgan Stanley grew its holdings in shares of BRP by 100.4% during the 3rd quarter. Morgan Stanley now owns 628,044 shares of the company’s stock worth $47,643,000 after purchasing an additional 314,625 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of BRP during the 1st quarter worth approximately $19,626,000. Finally, Bank of America Corp DE grew its holdings in shares of BRP by 51.6% during the 1st quarter. Bank of America Corp DE now owns 734,279 shares of the company’s stock worth $57,421,000 after purchasing an additional 250,005 shares in the last quarter.

BRP Trading Down 3.3 %

Shares of DOOO opened at $69.61 on Thursday. The stock has a fifty day moving average price of $66.80 and a two-hundred day moving average price of $68.42. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.55 and a current ratio of 1.41. BRP Inc. has a 52-week low of $57.15 and a 52-week high of $92.74. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 9.92 and a beta of 2.12.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a $0.1545 dividend. The ex-dividend date is Friday, April 5th. This represents a $0.62 annualized dividend and a yield of 0.89%. BRP’s payout ratio is 8.83%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DOOO. Raymond James decreased their price objective on BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a report on Monday, April 1st. TheStreet lowered BRP from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Desjardins boosted their price target on BRP from $112.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, CIBC boosted their price target on BRP from $106.00 to $110.00 and gave the company an “outperformer” rating in a research note on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BRP currently has an average rating of “Moderate Buy” and an average price target of $125.78.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.