Capital World Investors Acquires 991,392 Shares of BRP Inc. (NASDAQ:DOOO)

Capital World Investors raised its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 101.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,971,033 shares of the company’s stock after purchasing an additional 991,392 shares during the quarter. Capital World Investors’ holdings in BRP were worth $100,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FIL Ltd grew its stake in BRP by 176.2% in the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after buying an additional 505,228 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock worth $7,270,000 after purchasing an additional 16,379 shares during the period. Invesco Ltd. lifted 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 purchasing an additional 178,039 shares during the last quarter. Alberta Investment Management Corp grew its holdings in 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 buying an additional 14,500 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after buying an additional 66,627 shares during the period.

Analyst Ratings Changes

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

BRP Stock Up 1.1 %

NASDAQ DOOO opened at $32.79 on Tuesday. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $74.00. The business has a fifty day moving average price of $37.87 and a two-hundred day moving average price of $46.28. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The stock has a market capitalization of $2.39 billion, a PE ratio of 17.44 and a beta of 1.71.

BRP (NASDAQ:DOOO) last released 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. The business 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%. Equities analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were paid a $0.1508 dividend. This is an increase from BRP’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.84%. 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.