Invesco Ltd. increased its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 18.1% during 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 buying an additional 178,039 shares during the period. Invesco Ltd. owned 1.59% of BRP worth $59,175,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in shares of BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock worth $7,270,000 after acquiring an additional 16,379 shares during the last quarter. Alberta Investment Management Corp raised its stake in shares of BRP by 44.2% during the fourth 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 in the last quarter. Van ECK Associates Corp boosted its stake in shares of 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 purchasing an additional 66,627 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $12,978,000 after purchasing an additional 15,892 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in BRP by 25.0% in 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 last quarter.
BRP Stock Down 2.3 %
BRP stock traded down $0.76 during trading hours on Friday, hitting $32.44. 322,723 shares of the stock traded hands, compared to its average volume of 153,189. BRP Inc. has a one year low of $32.24 and a one year high of $74.00. The firm's 50-day moving average price is $38.04 and its two-hundred day moving average price is $46.63. 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 cap of $2.37 billion, a PE ratio of 17.26 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, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, research analysts forecast that BRP Inc. will post 3.15 EPS for the current year.
BRP Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.1508 dividend. This is a boost from BRP's previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Friday, April 4th. BRP's payout ratio is currently -29.21%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Raymond James reiterated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and boosted their price objective for the company 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 note on Thursday, March 27th. Baird R W lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $43.00 target price (down from $48.00) on shares of BRP in a report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BRP has a consensus rating of "Hold" and a consensus target price of $61.25.
Read Our Latest Analysis on BRP
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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