Forge First Asset Management Inc. Invests $8.19 Million in BRP Inc. $DOOO

Forge First Asset Management Inc. bought a new stake in BRP Inc. (NASDAQ:DOOO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 134,747 shares of the company’s stock, valued at approximately $8,188,000. BRP accounts for approximately 3.8% of Forge First Asset Management Inc.’s portfolio, making the stock its 9th biggest position.

Several other hedge funds have also bought and sold shares of DOOO. Aviso Financial Inc. raised its holdings in BRP by 44.2% during the second quarter. Aviso Financial Inc. now owns 30,319 shares of the company’s stock valued at $1,471,000 after acquiring an additional 9,296 shares during the period. Triasima Portfolio Management inc. purchased a new stake in BRP during the third quarter valued at $4,113,000. 1832 Asset Management L.P. lifted its holdings in shares of BRP by 21.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 84,005 shares of the company’s stock valued at $4,072,000 after acquiring an additional 14,660 shares during the last quarter. Waratah Capital Advisors Ltd. purchased a new position in shares of BRP in the 2nd quarter worth approximately $10,076,000. Finally, QV Investors Inc. purchased a new stake in BRP in the 3rd quarter worth about $29,351,000.

BRP Trading Down 0.8%

Shares of BRP stock opened at $77.88 on Friday. The stock has a 50 day moving average of $76.20 and a 200 day moving average of $68.88. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.49 and a current ratio of 1.23. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 210.49 and a beta of 1.26. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $78.07.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Thursday, December 4th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.27. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.50 billion. BRP had a net margin of 0.45% and a return on equity of 67.30%. BRP’s quarterly revenue was up 14.0% on a year-over-year basis. BRP has set its FY 2026 guidance at 3.600-3.600 EPS. As a group, research analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, December 31st were paid a $0.215 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.1%. BRP’s payout ratio is presently 164.86%.

Wall Street Analyst Weigh In

DOOO has been the subject of a number of recent research reports. Desjardins reiterated a “buy” rating on shares of BRP in a report on Friday, December 5th. TD Securities reaffirmed a “buy” rating on shares of BRP in a report on Thursday, December 4th. Wall Street Zen upgraded shares of BRP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 6th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of BRP in a report on Friday, December 5th. Finally, Royal Bank Of Canada raised their target price on BRP from $107.00 to $131.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.40.

BRP Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company’s diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP’s product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.