Connor Clark & Lunn Investment Management Ltd. Has $33.98 Million Stock Position in BRP Inc. $DOOO

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of BRP Inc. (NASDAQ:DOOO) by 91.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 558,889 shares of the company’s stock after acquiring an additional 267,686 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.77% of BRP worth $33,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its position in shares of BRP by 7.4% during the third quarter. Mackenzie Financial Corp now owns 3,057,000 shares of the company’s stock worth $185,836,000 after purchasing an additional 209,576 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of BRP by 166.8% in the third quarter. Franklin Resources Inc. now owns 461,984 shares of the company’s stock valued at $28,084,000 after purchasing an additional 288,815 shares in the last quarter. Quadrant Capital Group LLC bought a new position in BRP in the 3rd quarter worth approximately $77,000. Capital World Investors raised its position in BRP by 4.5% in the 3rd quarter. Capital World Investors now owns 2,323,013 shares of the company’s stock worth $141,247,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Vestcor Inc lifted its holdings in BRP by 127.9% during the 3rd quarter. Vestcor Inc now owns 4,990 shares of the company’s stock worth $303,000 after buying an additional 2,800 shares in the last quarter.

BRP Stock Performance

Shares of BRP stock opened at $66.01 on Friday. The firm has a fifty day moving average of $75.74 and a two-hundred day moving average of $69.81. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.49 and a current ratio of 1.23. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 178.41 and a beta of 1.26. BRP Inc. has a 52 week low of $31.78 and a 52 week high of $78.07.

Analyst Ratings Changes

A number of brokerages have commented on DOOO. Loop Capital began coverage on BRP in a research report on Thursday, November 13th. They issued a “buy” rating on the stock. TD Securities reaffirmed a “buy” rating on shares of BRP in a research note on Thursday, December 4th. Desjardins reiterated a “buy” rating on shares of BRP in a report on Friday, December 5th. Royal Bank Of Canada lifted their price objective on BRP from $107.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Wall Street Zen raised BRP from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.40.

BRP Company Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company’s diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP’s product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.