Canada Pension Plan Investment Board Increases Holdings in BRP Inc. (NASDAQ:DOOO)

Canada Pension Plan Investment Board raised its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,846 shares of the company's stock after acquiring an additional 30,674 shares during the period. Canada Pension Plan Investment Board owned approximately 0.14% of BRP worth $5,028,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Quadrant Capital Group LLC grew its stake in BRP by 259.3% in the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after buying an additional 490 shares in the last quarter. Signaturefd LLC grew its stake in BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after buying an additional 903 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in BRP in the 4th quarter worth approximately $77,000. Intact Investment Management Inc. purchased a new position in BRP in the 4th quarter worth approximately $148,000. Finally, Quantbot Technologies LP grew its stake in BRP by 26.6% in the 4th quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock worth $246,000 after buying an additional 1,017 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Raymond James restated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Citigroup upgraded shares of BRP from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $27.00 to $37.00 in a report on Friday, April 4th. Baird R W lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, TD Securities restated a "hold" rating on shares of BRP in a report on Thursday, March 27th. Ten research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $53.75.

BRP Stock Down 2.0 %

NASDAQ:DOOO traded down $0.70 on Monday, reaching $33.82. 115,087 shares of the stock traded hands, compared to its average volume of 155,254. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 17.99 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. BRP Inc. has a 12 month low of $31.78 and a 12 month high of $74.00. The company's fifty day simple moving average is $36.92 and its 200 day simple moving average is $45.42.

BRP (NASDAQ:DOOO - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. Equities analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were paid a $0.1508 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.78%. This is a boost from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is presently -29.21%.

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.