Turtle Creek Asset Management Inc. Acquires 668,607 Shares of BRP Inc. (NASDAQ:DOOO)

Turtle Creek Asset Management Inc. increased its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,970,680 shares of the company's stock after buying an additional 668,607 shares during the period. BRP accounts for approximately 3.9% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 11th biggest holding. Turtle Creek Asset Management Inc. owned about 4.07% of BRP worth $151,118,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DOOO. Capital World Investors boosted its stake in BRP by 101.2% during the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company's stock valued at $100,386,000 after purchasing an additional 991,392 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in BRP by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company's stock valued at $77,223,000 after purchasing an additional 288,004 shares during the last quarter. Vanguard Group Inc. boosted its stake in BRP by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company's stock valued at $62,355,000 after purchasing an additional 19,874 shares during the last quarter. Invesco Ltd. boosted its stake in BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company's stock valued at $59,175,000 after purchasing an additional 178,039 shares during the last quarter. Finally, FIL Ltd boosted its stake in BRP by 176.2% during the 4th quarter. FIL Ltd now owns 792,000 shares of the company's stock valued at $40,337,000 after purchasing an additional 505,228 shares during the last quarter.

BRP Stock Performance

Shares of NASDAQ:DOOO traded down $1.62 during mid-day trading on Wednesday, reaching $35.76. The company had a trading volume of 137,762 shares, compared to its average volume of 160,566. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 19.02 and a beta of 1.17. The company's 50-day moving average price is $35.50 and its 200-day moving average price is $43.45. BRP Inc. has a one year low of $31.78 and a one year high of $74.00.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. As a group, equities research analysts anticipate 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. Investors of record on Friday, April 4th were issued a $0.1508 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, April 4th. This is a boost from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is -29.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Raymond James reiterated a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Baird R W cut shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group dropped their target price on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, TD Securities reissued a "hold" rating on shares of BRP in a research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $53.75.

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.