BRP Inc. $DOOO Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its stake in BRP Inc. by 14.4%, acquiring an additional 346,114 shares, bringing their total holdings to approximately 2.74 million shares worth $92.8 million.
• BRP recently declared a quarterly dividend of $0.1557 per share, up from the previous quarter's $0.15, representing an annualized dividend yield of 1.1%.
• Multiple brokerages recently upgraded BRP Inc.’s stock ratings, with Citigroup setting a new price target of $51.00, up from $43.00.

Price T Rowe Associates Inc. MD raised its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,744,879 shares of the company's stock after acquiring an additional 346,114 shares during the period. Price T Rowe Associates Inc. MD owned approximately 3.76% of BRP worth $92,805,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in BRP by 75.3% in the 1st quarter. Russell Investments Group Ltd. now owns 3,820 shares of the company's stock valued at $129,000 after purchasing an additional 1,641 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of BRP in the fourth quarter valued at $229,000. Quantinno Capital Management LP acquired a new stake in shares of BRP in the fourth quarter valued at $298,000. Barclays PLC grew its stake in shares of BRP by 529.1% in the fourth quarter. Barclays PLC now owns 8,707 shares of the company's stock valued at $443,000 after buying an additional 7,323 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of BRP in the first quarter valued at $451,000.

BRP Stock Up 9.5%

Shares of DOOO stock traded up $5.49 during trading hours on Friday, reaching $62.98. 974,160 shares of the stock were exchanged, compared to its average volume of 313,330. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58. BRP Inc. has a 12-month low of $31.78 and a 12-month high of $72.52. The firm has a market capitalization of $4.60 billion, a P/E ratio of -262.42 and a beta of 1.19. The business's fifty day moving average is $52.13 and its two-hundred day moving average is $43.41.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.34% and a positive return on equity of 64.24%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.78 billion. As a group, research analysts expect that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.215 per share. The ex-dividend date is Tuesday, September 30th. This is an increase from BRP's previous quarterly dividend of $0.16. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.4%. BRP's payout ratio is presently -262.50%.

Analyst Upgrades and Downgrades

DOOO has been the subject of several research reports. Stifel Canada raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Citigroup restated a "neutral" rating and issued a $51.00 price objective (up previously from $43.00) on shares of BRP in a report on Monday, June 16th. Desjardins upgraded shares of BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. TD Securities upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 30th. Finally, Wall Street Zen upgraded shares of BRP from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, BRP has an average rating of "Moderate Buy" and an average price target of $43.00.

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.