Morningstar Investment Management LLC Invests $824,000 in BRP Inc. $DOO

Morningstar Investment Management LLC acquired a new position in BRP Inc. (NASDAQ:DOO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,653 shares of the company’s stock, valued at approximately $824,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of BRP in the fourth quarter worth $43,000. PNC Financial Services Group Inc. purchased a new stake in shares of BRP in the fourth quarter worth $142,000. Intact Investment Management Inc. purchased a new stake in shares of BRP in the fourth quarter worth $156,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of BRP in the fourth quarter worth $284,000. Finally, Annex Advisory Services LLC purchased a new stake in shares of BRP in the fourth quarter worth $279,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Raymond James Financial cut shares of BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada cut their target price on shares of BRP from $124.00 to $107.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 15th. Wells Fargo & Company assumed coverage on shares of BRP in a research note on Wednesday, March 11th. They set an “overweight” rating for the company. Finally, Zacks Research cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.67.

BRP Stock Performance

DOO opened at $55.38 on Tuesday. The stock has a market capitalization of $4.08 billion, a PE ratio of 19.03 and a beta of 0.90. The company’s fifty day moving average is $61.90. BRP Inc. has a fifty-two week low of $35.02 and a fifty-two week high of $81.89. The company has a quick ratio of 0.56, a current ratio of 1.27 and a debt-to-equity ratio of 3.92.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 10th. This is a positive change from BRP’s previous quarterly dividend of $0.07. This represents a $1.00 annualized dividend and a yield of 1.8%. BRP’s dividend payout ratio is 24.74%.

BRP Company Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.