Ceredex Value Advisors LLC Acquires 53,600 Shares of BRP Inc. (NASDAQ:DOOO)

Ceredex Value Advisors LLC raised its holdings in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 24.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,284 shares of the company's stock after purchasing an additional 53,600 shares during the quarter. Ceredex Value Advisors LLC owned 0.38% of BRP worth $14,004,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. FIL Ltd boosted its stake 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 last quarter. Norges Bank bought a new stake in BRP during the fourth quarter worth $15,259,000. Franklin Resources Inc. lifted its stake in BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock valued at $43,461,000 after acquiring an additional 214,626 shares in the last quarter. Invesco Ltd. boosted its holdings in BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company's stock worth $59,175,000 after acquiring an additional 178,039 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of BRP in the fourth quarter valued at about $6,839,000.

Analyst Ratings Changes

A number of brokerages have issued reports on DOOO. Robert W. Baird reaffirmed a "neutral" rating and issued a $43.00 price objective (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Raymond James restated a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. Baird R W downgraded shares of BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. TD Securities restated a "hold" rating on shares of BRP in a report on Thursday, March 27th. Finally, Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and increased their target price for the company from $27.00 to $37.00 in a research report on Friday, April 4th. Ten 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, the company presently has a consensus rating of "Hold" and a consensus target price of $61.25.

BRP Stock Performance

Shares of DOOO stock traded up $0.06 during trading on Tuesday, reaching $32.85. 50,603 shares of the company's stock traded hands, compared to its average volume of 153,453. BRP Inc. has a 1 year low of $31.78 and a 1 year high of $74.00. The company has a market capitalization of $2.40 billion, a P/E ratio of 17.40 and a beta of 1.71. 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 firm's 50-day moving average is $37.87 and its 200 day moving average is $46.28.

BRP (NASDAQ:DOOO - Get Free Report) last announced 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. BRP had a return on equity of 61.20% and a net margin of 2.29%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.97 billion. Equities research analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.1508 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Friday, April 4th. This is a positive change from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio is -29.21%.

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.