Renaissance Technologies LLC increased its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 173.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,700 shares of the company's stock after acquiring an additional 46,100 shares during the period. Renaissance Technologies LLC owned approximately 0.10% of BRP worth $3,698,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of BRP by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company's stock valued at $62,355,000 after acquiring an additional 19,874 shares in the last quarter. Invesco Ltd. raised its stake in BRP by 18.1% in the fourth quarter. Invesco Ltd. now owns 1,163,257 shares of the company's stock valued at $59,175,000 after buying an additional 178,039 shares in the last quarter. FIL Ltd raised its stake in BRP by 176.2% in the fourth quarter. FIL Ltd now owns 792,000 shares of the company's stock valued at $40,337,000 after buying an additional 505,228 shares in the last quarter. Franklin Resources Inc. raised its stake in BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock valued at $43,461,000 after buying an additional 214,626 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in BRP by 25.0% in the fourth quarter. Alliancebernstein L.P. now owns 388,568 shares of the company's stock valued at $19,766,000 after buying an additional 77,699 shares in the last quarter.
BRP Stock Performance
Shares of BRP stock traded down $0.70 during trading hours on Monday, hitting $33.82. 115,087 shares of the company were exchanged, compared to its average volume of 155,254. The business has a 50-day moving average of $36.92 and a 200-day moving average of $45.42. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 17.99 and a beta of 1.71. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. BRP Inc. has a 1 year low of $31.78 and a 1 year high of $74.00.
BRP (NASDAQ:DOOO - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, analysts expect that BRP Inc. will post 3.15 EPS 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 paid 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 dividend yield of 1.78%. This is a positive change from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio (DPR) is presently -29.21%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. UBS Group cut their target price on BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. TD Securities reiterated a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $27.00 to $37.00 in a research note on Friday, April 4th. Raymond James reiterated a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $43.00 price objective (down previously from $48.00) on shares of BRP in a research note on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BRP has an average rating of "Hold" and a consensus price target of $53.75.
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About BRP
(
Free Report)
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.
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