Renaissance Technologies LLC Has $3.70 Million Stake in BRP Inc. (NASDAQ:DOOO)

Renaissance Technologies LLC raised its position in BRP Inc. (NASDAQ:DOOO) by 173.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 72,700 shares of the company’s stock after purchasing an additional 46,100 shares during the quarter. Renaissance Technologies LLC’s holdings in BRP were worth $3,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of DOOO. Vanguard Group Inc. lifted its stake in BRP by 1.7% in 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. lifted its position in shares of 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 during the last quarter. FIL Ltd boosted its stake in shares of BRP by 176.2% during the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock worth $40,337,000 after acquiring an additional 505,228 shares during the period. Franklin Resources Inc. increased its holdings in shares of BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after acquiring an additional 214,626 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in BRP by 25.0% in the 4th quarter. Alliancebernstein L.P. now owns 388,568 shares of the company’s stock valued at $19,766,000 after acquiring an additional 77,699 shares during the period.

BRP Trading Up 0.3 %

Shares of DOOO stock opened at $32.88 on Wednesday. The stock has a market cap of $2.40 billion, a P/E ratio of 17.49 and a beta of 1.71. BRP Inc. has a 1 year low of $31.78 and a 1 year high of $74.00. 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 stock has a 50 day simple moving average of $37.68 and a 200 day simple moving average of $46.19.

BRP (NASDAQ:DOOO) last released its 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 during the quarter, compared to the consensus estimate of $1.97 billion. On average, research analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, April 4th were issued a $0.1508 dividend. This is a positive change from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, April 4th. BRP’s dividend payout ratio (DPR) is currently -29.21%.

Analyst Ratings Changes

DOOO has been the subject of a number of research analyst reports. Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Robert W. Baird reiterated a “neutral” rating and issued a $43.00 price target (down previously from $48.00) on shares of BRP in a research note on Friday, April 4th. Baird R W downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. 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. Finally, TD Securities reissued a “hold” 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.25.

BRP Company Profile

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.