BRP Inc. (NASDAQ:DOOO) Shares Bought by Turtle Creek Asset Management Inc.

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

A number of other hedge funds and other institutional investors have also modified their holdings of DOOO. Addenda Capital Inc. increased its stake in BRP by 10.5% in the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company's stock valued at $678,000 after purchasing an additional 1,265 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock valued at $3,875,000 after buying an additional 66,627 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of BRP by 14.0% in the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock valued at $7,270,000 after buying an additional 16,379 shares during the last quarter. Alberta Investment Management Corp raised its stake in BRP by 44.2% during the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock worth $2,408,000 after acquiring an additional 14,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in BRP by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,154 shares of the company's stock valued at $5,047,000 after acquiring an additional 3,351 shares in the last quarter.

BRP Stock Performance

NASDAQ:DOOO traded down $0.19 during mid-day trading on Friday, reaching $35.79. The stock had a trading volume of 31,259 shares, compared to its average volume of 160,160. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $74.00. The business has a 50 day simple moving average of $35.44 and a 200 day simple moving average of $43.35. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 19.02 and a beta of 1.17. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly 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. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. On average, analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.1508 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. This is an increase from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is currently -29.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOOO. Citigroup raised BRP from a "sell" rating to a "neutral" rating and upped their target price for the company from $27.00 to $37.00 in a research report on Friday, April 4th. TD Securities restated a "hold" rating on shares of BRP in a research report on Thursday, March 27th. UBS Group cut their target price on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and set a $43.00 price target (down previously from $48.00) on shares of BRP in a research note on Friday, April 4th. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Ten analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.