300,000 Shares in BRP Inc. (NASDAQ:DOOO) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 300,000 shares of the company's stock, valued at approximately $15,259,000. Norges Bank owned approximately 0.41% of BRP as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Signaturefd LLC grew its holdings in shares of BRP by 296.1% during the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock valued at $61,000 after buying an additional 903 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of BRP in the fourth quarter valued at approximately $148,000. Public Employees Retirement System of Ohio purchased a new position in BRP during the third quarter valued at $178,000. Quantbot Technologies LP raised its holdings in shares of BRP by 26.6% during the fourth quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock valued at $246,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Vestcor Inc lifted its holdings in BRP by 285.9% in the 4th quarter. Vestcor Inc now owns 13,090 shares of the company's stock valued at $666,000 after purchasing an additional 9,698 shares in the last quarter.

BRP Stock Performance

Shares of NASDAQ:DOOO traded up $0.57 on Friday, hitting $36.65. The company's stock had a trading volume of 232,354 shares, compared to its average volume of 152,028. The stock's 50-day moving average is $38.97 and its two-hundred day moving average is $47.44. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 19.49 and a beta of 1.71. BRP Inc. has a 12 month low of $32.24 and a 12 month high of $74.00. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, equities 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 will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.1508 per share. This represents a $0.60 annualized dividend and a 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 dividend payout ratio (DPR) is -29.21%.

Wall Street Analysts Forecast Growth

DOOO has been the topic of several recent analyst reports. Raymond James reiterated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. TD Securities restated a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Robert W. Baird reaffirmed a "neutral" rating and set a $43.00 price objective (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Citigroup upgraded shares of BRP from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $27.00 to $37.00 in a research note on Friday, April 4th. Finally, Baird R W lowered BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Ten research 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, the stock has a consensus rating of "Hold" and a consensus target price of $61.25.

About BRP

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.