Addenda Capital Inc. Purchases 3,575 Shares of BRP Inc. $DOOO

Addenda Capital Inc. boosted its holdings in BRP Inc. (NASDAQ:DOOO) by 24.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,274 shares of the company’s stock after acquiring an additional 3,575 shares during the quarter. Addenda Capital Inc.’s holdings in BRP were worth $886,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in BRP in the first quarter worth approximately $70,000. State of Wyoming acquired a new position in shares of BRP in the first quarter worth about $93,000. Russell Investments Group Ltd. lifted its holdings in shares of BRP by 75.3% during the first quarter. Russell Investments Group Ltd. now owns 3,820 shares of the company’s stock valued at $129,000 after acquiring an additional 1,641 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in BRP during the 1st quarter worth approximately $207,000. Finally, Aigen Investment Management LP bought a new position in shares of BRP in the first quarter worth $451,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DOOO. Scotiabank reiterated a “sector perform” rating on shares of BRP in a research report on Tuesday, September 2nd. Zacks Research raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 2nd. BMO Capital Markets restated an “outperform” rating on shares of BRP in a report on Tuesday, September 2nd. UBS Group increased their price target on shares of BRP from $35.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, CIBC upgraded BRP from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

BRP Stock Up 0.4%

NASDAQ:DOOO opened at $60.71 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.55 and a debt-to-equity ratio of 5.54. The company’s 50 day moving average is $57.79 and its two-hundred day moving average is $46.59. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $68.42. The company has a market cap of $4.43 billion, a PE ratio of -252.96 and a beta of 1.19.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, August 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.34. BRP had a negative net margin of 0.34% and a positive return on equity of 61.26%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Analysts anticipate that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.86 annualized dividend and a dividend yield of 1.4%. This is an increase from BRP’s previous quarterly dividend of $0.16. BRP’s dividend payout ratio is currently -258.33%.

BRP Company Profile

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.