Systematic Financial Management LP Raises Stock Position in BRP Inc. (NASDAQ:DOOO)

Systematic Financial Management LP raised its stake in shares of BRP Inc. (NASDAQ:DOOO) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,425 shares of the company’s stock after purchasing an additional 10,341 shares during the quarter. Systematic Financial Management LP owned approximately 0.28% of BRP worth $10,297,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FIL Ltd increased its position in BRP by 176.2% during the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after purchasing an additional 505,228 shares during the period. CIBC Asset Management Inc increased its position in BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after purchasing an additional 16,379 shares during the period. Invesco Ltd. increased its position in BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company’s stock valued at $59,175,000 after purchasing an additional 178,039 shares during the period. Raymond James Financial Inc. purchased a new position in BRP during the 4th quarter valued at $916,000. Finally, Alberta Investment Management Corp increased its position in BRP by 44.2% during 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 period.

BRP Stock Performance

Shares of DOOO stock opened at $37.41 on Friday. BRP Inc. has a one year low of $31.78 and a one year high of $74.00. The company’s 50-day moving average is $35.62 and its 200 day moving average is $43.67. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 19.90 and a beta of 1.17. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate 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. Sell-side analysts expect that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were paid a dividend of $0.1508 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.61%. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio is currently -29.21%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup raised shares of BRP from a “sell” rating to a “neutral” rating and upped their target price for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. TD Securities reaffirmed a “hold” rating on shares of BRP in a research report on Thursday, March 27th. UBS Group reduced their target price on shares of BRP from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $43.00 target price (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.75.

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.