American Century Companies Inc. Raises Stock Holdings in BRP Inc. $DOOO

Key Points

• American Century Companies increased its BRP stake by 1,141.4% in Q3, adding 215,558 shares to hold 234,444 shares (about 0.32% of the company) worth roughly $14.26 million.
• Analysts have moved bullish on DOOO—RBC raised its target to $131 and multiple firms issued "buy"/"outperform" ratings; MarketBeat's consensus target is $84.40 with an average rating of "Moderate Buy".
• BRP trades near $65.91 with a market cap of $4.81 billion and a high P/E of 178.14, and a 12‑month range of $31.78–$78.07, suggesting elevated valuation metrics relative to its recent price.

American Century Companies Inc. grew its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 1,141.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,444 shares of the company's stock after acquiring an additional 215,558 shares during the quarter. American Century Companies Inc. owned about 0.32% of BRP worth $14,255,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in BRP by 8.1% in the third quarter. Vanguard Group Inc. now owns 1,372,256 shares of the company's stock valued at $83,437,000 after purchasing an additional 102,269 shares during the period. TD Asset Management Inc raised its holdings in shares of BRP by 46.3% in the third quarter. TD Asset Management Inc now owns 186,800 shares of the company's stock valued at $11,361,000 after buying an additional 59,156 shares during the last quarter. Aviso Financial Inc. boosted its stake in shares of BRP by 44.2% during the second quarter. Aviso Financial Inc. now owns 30,319 shares of the company's stock worth $1,471,000 after buying an additional 9,296 shares during the period. Forge First Asset Management Inc. acquired a new stake in shares of BRP during the third quarter worth about $8,188,000. Finally, Triasima Portfolio Management inc. purchased a new position in shares of BRP during the third quarter worth about $4,113,000.

BRP Stock Performance

Shares of DOOO stock opened at $65.91 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.49 and a debt-to-equity ratio of 4.31. The stock has a 50 day simple moving average of $75.84 and a 200-day simple moving average of $69.83. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 178.14 and a beta of 1.26. BRP Inc. has a 12-month low of $31.78 and a 12-month high of $78.07.

Analysts Set New Price Targets

DOOO has been the subject of several analyst reports. National Bank Financial upgraded BRP from a "sector perform" rating to an "outperform" rating in a research note on Thursday, December 4th. Royal Bank Of Canada lifted their price objective on shares of BRP from $107.00 to $131.00 and gave the company an "outperform" rating in a research report on Friday, December 5th. TD Securities reissued a "buy" rating on shares of BRP in a research note on Thursday, December 4th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of BRP in a research report on Friday, December 5th. Finally, Citigroup reaffirmed a "buy" rating on shares of BRP in a report on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.40.

BRP Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company's diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP's product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.

Want to see what other hedge funds are holding DOOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BRP Inc. (NASDAQ:DOOO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.