BRP Inc. (NASDAQ:DOOO) Shares Acquired by Invesco Ltd.

Invesco Ltd. increased its position in BRP Inc. (NASDAQ:DOOO) by 18.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,163,257 shares of the company’s stock after purchasing an additional 178,039 shares during the period. Invesco Ltd. owned 1.59% of BRP worth $59,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of BRP by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company’s stock worth $62,355,000 after acquiring an additional 19,874 shares in the last quarter. Franklin Resources Inc. boosted its holdings in BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after purchasing an additional 214,626 shares during the period. Alliancebernstein L.P. raised its holdings in shares of BRP by 25.0% during the fourth quarter. Alliancebernstein L.P. now owns 388,568 shares of the company’s stock worth $19,766,000 after purchasing an additional 77,699 shares during the period. Norges Bank bought a new position in shares of BRP in the 4th quarter worth about $15,259,000. Finally, Geode Capital Management LLC boosted its holdings in shares of BRP by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after buying an additional 15,892 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DOOO shares. TD Securities reiterated a “hold” rating on shares of BRP in a research note on Thursday, March 27th. Robert W. Baird reiterated a “neutral” rating and set a $43.00 price target (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Citigroup upgraded BRP from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $27.00 to $37.00 in a research note on Friday, April 4th. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Raymond James reissued a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Ten analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BRP presently has a consensus rating of “Hold” and an average price target of $61.25.

BRP Price Performance

Shares of NASDAQ DOOO opened at $36.64 on Tuesday. The stock has a market cap of $2.68 billion, a P/E ratio of 19.49 and a beta of 1.71. The firm’s 50-day simple moving average is $38.80 and its 200 day simple moving average is $47.18. BRP Inc. has a fifty-two week low of $32.24 and a fifty-two week high of $74.00. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. Equities analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.1508 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from BRP’s previous quarterly dividend of $0.15. BRP’s payout ratio is currently -29.21%.

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.