Alberta Investment Management Corp Acquires 14,500 Shares of BRP Inc. (NASDAQ:DOOO)

Alberta Investment Management Corp grew its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 44.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 47,300 shares of the company’s stock after purchasing an additional 14,500 shares during the period. Alberta Investment Management Corp’s holdings in BRP were worth $2,408,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of BRP by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after acquiring an additional 150,039 shares during the last quarter. Franklin Resources Inc. increased its position in shares of BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after purchasing an additional 214,626 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BRP by 17.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after purchasing an additional 61,502 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in shares of BRP by 27.5% during the 3rd quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company’s stock worth $13,233,000 after purchasing an additional 47,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of BRP by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after buying an additional 15,892 shares during the last quarter.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $41.99 on Friday. 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 capitalization of $3.07 billion, a P/E ratio of 22.34 and a beta of 2.02. BRP Inc. has a 12 month low of $40.68 and a 12 month high of $75.59. The stock has a 50 day moving average of $49.13 and a 200-day moving average of $54.88.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Friday, December 6th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. As a group, equities research analysts predict that BRP Inc. will post 3.15 EPS for the current year.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.1485 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.41%. BRP’s dividend payout ratio (DPR) is currently 30.85%.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of BRP from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.00.

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.