Lazard Asset Management LLC Raises Stake in BRP Inc. $DOO

Lazard Asset Management LLC grew its position in BRP Inc. (NASDAQ:DOO) by 324.1% in the first quarter, HoldingsChannel.com reports. The firm owned 152,035 shares of the company’s stock after acquiring an additional 116,189 shares during the period. Lazard Asset Management LLC’s holdings in BRP were worth $10,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOO. Quarry LP bought a new stake in shares of BRP during the 4th quarter valued at $30,000. Signaturefd LLC bought a new position in BRP in the 4th quarter worth $43,000. Quadrant Capital Group LLC bought a new position in BRP in the 4th quarter worth $89,000. PNC Financial Services Group Inc. bought a new position in BRP in the 4th quarter worth $142,000. Finally, Intact Investment Management Inc. purchased a new stake in BRP in the 4th quarter worth $156,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Seaport Research Partners downgraded BRP from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Raymond James Financial downgraded BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. TD Cowen downgraded BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 15th. Four research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.00.

BRP Stock Down 2.2%

Shares of DOO stock opened at $61.14 on Thursday. The stock has a market cap of $4.48 billion, a P/E ratio of 23.07 and a beta of 0.89. BRP Inc. has a 52 week low of $48.67 and a 52 week high of $81.89. The company has a quick ratio of 0.61, a current ratio of 1.30 and a debt-to-equity ratio of 3.41. The company’s fifty day simple moving average is $59.68 and its two-hundred day simple moving average is $65.71.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP’s payout ratio is 26.42%.

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.