BRP Inc. (NASDAQ:DOO – Get Free Report) has received a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $83.00.
Several equities research analysts have recently issued reports on the company. Raymond James Financial cut BRP from a “strong-buy” rating to a “market perform” rating in a report on Friday, April 24th. TD Cowen lowered BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Wells Fargo & Company started coverage on BRP in a research report on Wednesday, March 11th. They set an “overweight” rating on the stock. Zacks Research raised BRP from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, TD Securities restated a “hold” rating on shares of BRP in a report on Friday, May 29th.
BRP Stock Down 2.4%
BRP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, June 30th. BRP’s dividend payout ratio is presently 26.42%.
Institutional Investors Weigh In On BRP
A number of institutional investors have recently bought and sold shares of the stock. VELA Investment Management LLC purchased a new position in BRP during the fourth quarter worth approximately $1,651,000. Addenda Capital Inc. purchased a new stake in shares of BRP during the 4th quarter valued at $1,170,000. Triasima Portfolio Management inc. purchased a new stake in shares of BRP during the 4th quarter valued at $5,551,000. QV Investors Inc. acquired a new stake in shares of BRP during the 4th quarter worth $31,701,000. Finally, K.J. Harrison & Partners Inc acquired a new stake in shares of BRP during the 4th quarter worth $1,133,000.
About BRP
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.
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