Turtle Creek Asset Management Inc. Increases Stock Holdings in BRP Inc. (NASDAQ:DOOO)

Turtle Creek Asset Management Inc. lifted its stake in shares of BRP Inc. (NASDAQ:DOOO) by 29.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,970,680 shares of the company’s stock after buying an additional 668,607 shares during the period. BRP comprises about 3.9% of Turtle Creek Asset Management Inc.’s holdings, making the stock its 11th largest position. Turtle Creek Asset Management Inc. owned approximately 4.07% of BRP worth $151,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its position in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock worth $35,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC boosted its position in BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after purchasing an additional 903 shares during the last quarter. Dnca Finance boosted its position in BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company’s stock worth $71,000 after purchasing an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in BRP in the fourth quarter worth $77,000. Finally, Intact Investment Management Inc. purchased a new position in BRP in the fourth quarter worth $148,000.

BRP Stock Performance

NASDAQ:DOOO opened at $37.41 on Friday. BRP Inc. has a 52-week low of $31.78 and a 52-week high of $74.00. The business’s fifty day moving average is $35.62 and its 200 day moving average is $43.67. 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 cap of $2.73 billion, a price-to-earnings ratio of 19.90 and a beta of 1.17.

BRP (NASDAQ:DOOO) last posted its earnings results on Wednesday, March 26th. The company reported $0.69 EPS 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 during the quarter, compared to analysts’ expectations of $1.97 billion. Research analysts predict that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were issued a $0.1508 dividend. This is a boost from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, April 4th. BRP’s dividend payout ratio is presently -29.21%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DOOO shares. Citigroup raised BRP from a “sell” rating to a “neutral” rating and upped their price target for the company from $27.00 to $37.00 in a research report on Friday, April 4th. TD Securities reaffirmed a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. UBS Group dropped their price target on BRP from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 price target (down previously from $48.00) on shares of BRP in a research report on Friday, April 4th. Ten equities 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 has an average rating of “Hold” and an average price target 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.