Alliancebernstein L.P. boosted its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 25.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 388,568 shares of the company's stock after purchasing an additional 77,699 shares during the quarter. Alliancebernstein L.P. owned about 0.53% of BRP worth $19,766,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its holdings in shares of BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock worth $7,270,000 after buying an additional 16,379 shares in the last quarter. Alberta Investment Management Corp grew its stake in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock worth $2,408,000 after acquiring an additional 14,500 shares during the period. Van ECK Associates Corp raised its holdings in BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock valued at $3,875,000 after acquiring an additional 66,627 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock worth $12,978,000 after purchasing an additional 15,892 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of BRP by 50.1% during the fourth quarter. Sei Investments Co. now owns 144,862 shares of the company's stock worth $7,369,000 after purchasing an additional 48,330 shares during the last quarter.
Analyst Ratings Changes
DOOO has been the subject of several analyst reports. Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and upped their target price for the company from $27.00 to $37.00 in a research note on Friday, April 4th. TD Securities reiterated a "hold" rating on shares of BRP in a report on Thursday, March 27th. Robert W. Baird restated a "neutral" rating and issued a $43.00 target price (down from $48.00) on shares of BRP in a report on Friday, April 4th. Baird R W downgraded shares of 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 research note on Thursday, March 27th. Ten 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $61.25.
Read Our Latest Stock Report on BRP
BRP Stock Up 1.6 %
BRP stock traded up $0.57 during trading on Friday, reaching $36.65. 232,354 shares of the company's stock were exchanged, compared to its average volume of 152,028. The company's 50-day moving average is $38.97 and its two-hundred day moving average is $47.44. 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 Inc. has a 52-week low of $32.24 and a 52-week high of $74.00. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 19.49 and a beta of 1.71.
BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.97 billion. On average, analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.
BRP Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.1508 per share. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from BRP's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 1.65%. BRP's payout ratio is currently -29.21%.
BRP Profile
(
Free Report)
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.
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