American Century Companies Inc. Decreases Stake in BRP Inc. $DOOO

Key Points

• American Century Companies Inc. reduced its holdings in BRP Inc. by 29.6%, decreasing to approximately 1.40% of the company, after selling 431,337 shares during the 1st quarter.
• Multiple analysts upgraded BRP's stock rating, with the current consensus being a Moderate Buy and an average price target of $43.00.
• BRP recently announced a quarterly dividend increase, raising it from $0.15 to $0.1557 per share, reflecting a 1.1% dividend yield.

American Century Companies Inc. lessened its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,023,960 shares of the company's stock after selling 431,337 shares during the period. American Century Companies Inc. owned 1.40% of BRP worth $34,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of BRP during the 4th quarter worth $916,000. Dimensional Fund Advisors LP raised its holdings in shares of BRP by 16.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 171,554 shares of the company's stock worth $8,727,000 after acquiring an additional 24,171 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in shares of BRP by 31.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company's stock worth $2,193,000 after acquiring an additional 15,447 shares during the period. Fiera Capital Corp raised its holdings in shares of BRP by 5.5% during the 1st quarter. Fiera Capital Corp now owns 135,330 shares of the company's stock worth $4,574,000 after acquiring an additional 7,082 shares during the period. Finally, Turtle Creek Asset Management Inc. raised its holdings in shares of BRP by 29.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company's stock worth $151,118,000 after acquiring an additional 668,607 shares during the period.

Wall Street Analysts Forecast Growth

DOOO has been the topic of several analyst reports. TD Securities upgraded BRP from a "hold" rating to a "strong-buy" rating in a report on Friday, May 30th. Wall Street Zen upgraded BRP from a "hold" rating to a "buy" rating in a report on Sunday, July 6th. Desjardins upgraded BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Citigroup restated a "neutral" rating and issued a $51.00 price objective (up from $43.00) on shares of BRP in a report on Monday, June 16th. Finally, Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

BRP Trading Up 0.4%

NASDAQ DOOO traded up $0.22 during trading on Wednesday, hitting $57.03. The stock had a trading volume of 238,446 shares, compared to its average volume of 270,948. The company has a market capitalization of $4.16 billion, a PE ratio of -139.10 and a beta of 1.24. The company has a quick ratio of 0.58, a current ratio of 1.34 and a debt-to-equity ratio of 5.85. The firm has a 50 day moving average price of $51.61 and a 200 day moving average price of $43.14. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $72.52.

BRP (NASDAQ:DOOO - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. BRP had a positive return on equity of 54.71% and a negative net margin of 0.55%. As a group, equities research analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP 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.