BRP Inc. (NASDAQ:DOOO) Stock Holdings Increased by Invesco Ltd.

Invesco Ltd. raised its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 18.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,163,257 shares of the company’s stock after purchasing an additional 178,039 shares during the quarter. Invesco Ltd.’s holdings in BRP were worth $59,175,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake 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 in the last quarter. Alberta Investment Management Corp boosted its position in shares of BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after purchasing an additional 14,500 shares during the period. Van ECK Associates Corp increased its stake in BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after purchasing an additional 66,627 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 buying an additional 15,892 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in BRP by 25.0% during the fourth quarter. Alliancebernstein L.P. now owns 388,568 shares of the company’s stock valued at $19,766,000 after buying an additional 77,699 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DOOO shares. Baird R W lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. TD Securities reissued a “hold” rating on shares of BRP in a research note on Thursday, March 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $43.00 target price (down previously from $48.00) on shares of BRP in a research report on Friday, April 4th. Raymond James reissued a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Finally, Citigroup upgraded BRP from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.25.

BRP Stock Performance

Shares of DOOO stock opened at $36.64 on Tuesday. The firm has a market cap of $2.68 billion, a P/E ratio of 19.49 and a beta of 1.71. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. BRP Inc. has a fifty-two week low of $32.24 and a fifty-two week high of $74.00. The stock’s 50-day moving average is $38.80 and its two-hundred day moving average is $47.18.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data 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 net margin of 2.29% and a return on equity of 61.20%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. Analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.1508 per share. This represents a $0.60 annualized dividend and a yield of 1.65%. This is an increase from BRP’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, April 4th. BRP’s dividend payout ratio is presently -29.21%.

BRP Company 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.