Charles Schwab Investment Management Inc. Boosts Stock Position in BRP Inc. $DOOO

Charles Schwab Investment Management Inc. increased its stake in BRP Inc. (NASDAQ:DOOO) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,158 shares of the company’s stock after buying an additional 10,004 shares during the period. Charles Schwab Investment Management Inc. owned 0.15% of BRP worth $3,685,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp bought a new position in shares of BRP during the fourth quarter valued at approximately $229,000. Quantinno Capital Management LP bought a new position in shares of BRP during the fourth quarter valued at approximately $298,000. Barclays PLC increased its stake in shares of BRP by 529.1% during the fourth quarter. Barclays PLC now owns 8,707 shares of the company’s stock valued at $443,000 after purchasing an additional 7,323 shares in the last quarter. Addenda Capital Inc. increased its stake in shares of BRP by 10.3% during the first quarter. Addenda Capital Inc. now owns 14,699 shares of the company’s stock valued at $497,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of BRP by 401.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock valued at $765,000 after purchasing an additional 12,023 shares in the last quarter.

BRP Trading Up 9.5%

Shares of DOOO stock opened at $62.98 on Friday. BRP Inc. has a 12-month low of $31.78 and a 12-month high of $72.52. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85. The firm’s 50 day moving average is $52.13 and its 200 day moving average is $43.39. The stock has a market capitalization of $4.60 billion, a P/E ratio of -153.61 and a beta of 1.24.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Research analysts expect that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a $0.215 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.86 dividend on an annualized basis and a yield of 1.4%. This is an increase from BRP’s previous quarterly dividend of $0.16. BRP’s payout ratio is presently -153.66%.

Analysts Set New Price Targets

DOOO has been the subject of a number of analyst reports. Stifel Canada raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 29th. Desjardins upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Wall Street Zen upgraded shares of BRP from a “buy” rating to a “strong-buy” rating in a report on Saturday. TD Securities upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Friday, May 30th. Finally, Citigroup reiterated a “neutral” rating and set a $51.00 price target (up previously from $43.00) on shares of BRP in a report on Monday, June 16th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

BRP 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.