Ceredex Value Advisors LLC Boosts Position in BRP Inc. (NASDAQ:DOOO)

Ceredex Value Advisors LLC grew its position in BRP Inc. (NASDAQ:DOOO) by 24.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 275,284 shares of the company’s stock after purchasing an additional 53,600 shares during the period. Ceredex Value Advisors LLC’s holdings in BRP were worth $14,004,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FIL Ltd increased its holdings 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 acquiring an additional 505,228 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock worth $7,270,000 after purchasing an additional 16,379 shares in the last quarter. Invesco Ltd. raised its position in shares of BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company’s stock worth $59,175,000 after purchasing an additional 178,039 shares during the last quarter. Alberta Investment Management Corp lifted its stake in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after buying an additional 14,500 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in BRP by 699.9% during 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 during the last quarter.

Analyst Upgrades and Downgrades

DOOO has been the subject of a number of analyst reports. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Citigroup upgraded shares of 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 report on Friday, April 4th. Raymond James reiterated a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Robert W. Baird restated a “neutral” rating and set a $43.00 target price (down previously from $48.00) on shares of BRP in a research report on Friday, April 4th. Finally, TD Securities reiterated a “hold” rating on shares of BRP in a report on Thursday, March 27th. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, BRP currently has an average rating of “Hold” and an average target price of $61.25.

BRP Stock Performance

Shares of DOOO stock opened at $33.20 on Thursday. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 17.66 and a beta of 1.71. BRP Inc. has a one year low of $32.24 and a one year high of $74.00. The company has a 50 day moving average price of $38.42 and a 200 day moving average price of $47.00.

BRP (NASDAQ:DOOO) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. Sell-side analysts anticipate that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.1508 per share. The ex-dividend date is Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s payout ratio is presently -29.21%.

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.