Lazard Asset Management LLC Sells 29,317 Shares of BRP Inc. (NASDAQ:DOOO)

Lazard Asset Management LLC lessened its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 18.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 126,685 shares of the company’s stock after selling 29,317 shares during the period. Lazard Asset Management LLC’s holdings in BRP were worth $6,444,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital World Investors boosted its holdings in BRP by 101.2% in the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock valued at $100,386,000 after acquiring an additional 991,392 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of BRP by 23.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company’s stock worth $77,223,000 after purchasing an additional 288,004 shares during the period. Vanguard Group Inc. raised its position in BRP by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company’s stock valued at $62,355,000 after buying an additional 19,874 shares during the last quarter. Invesco Ltd. raised its position in BRP by 18.1% in the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company’s stock valued at $59,175,000 after buying an additional 178,039 shares during the last quarter. Finally, FIL Ltd raised its position in BRP by 176.2% in the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after buying an additional 505,228 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have weighed in on DOOO shares. Raymond James restated a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. Citigroup raised BRP from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $27.00 to $37.00 in a report on Friday, April 4th. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. TD Securities reissued a “hold” rating on shares of BRP in a report on Thursday, March 27th. Finally, UBS Group dropped their price target on BRP from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.75.

BRP Price Performance

Shares of NASDAQ DOOO opened at $36.76 on Friday. The stock has a market capitalization of $2.68 billion, a PE ratio of 19.55 and a beta of 1.17. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The business has a fifty day moving average price of $35.65 and a two-hundred day moving average price of $43.82. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $74.00.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, equities analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a $0.1508 dividend. The ex-dividend date was Friday, April 4th. This is a boost from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 1.64%. BRP’s payout ratio is currently -29.21%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.