Signaturefd LLC Raises Stake in BRP Inc. (NASDAQ:DOOO)

Signaturefd LLC increased its position in shares of BRP Inc. (NASDAQ:DOOO) by 296.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,208 shares of the company’s stock after acquiring an additional 903 shares during the quarter. Signaturefd LLC’s holdings in BRP were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of DOOO. Intact Investment Management Inc. acquired a new position in BRP in the 4th quarter valued at about $148,000. Vestcor Inc grew its position in BRP by 285.9% in the fourth quarter. Vestcor Inc now owns 13,090 shares of the company’s stock worth $666,000 after acquiring an additional 9,698 shares during the period. Raymond James Financial Inc. acquired a new stake in BRP during the fourth quarter worth $916,000. Charles Schwab Investment Management Inc. raised its position in BRP by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,154 shares of the company’s stock valued at $5,047,000 after purchasing an additional 3,351 shares during the period. Finally, Alberta Investment Management Corp lifted its stake in shares of BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after purchasing an additional 14,500 shares during the last quarter.

BRP Price Performance

DOOO stock opened at $38.10 on Tuesday. The business’s fifty day moving average price is $43.91 and its 200 day moving average price is $50.10. BRP Inc. has a 12-month low of $36.27 and a 12-month high of $75.59. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $2.78 billion, a PE ratio of 20.27 and a beta of 2.03.

Analysts Set New Price Targets

Separately, Citigroup downgraded BRP from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $48.00 to $29.00 in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.80.

BRP 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.