Morningstar Investment Management LLC Acquires New Holdings in BRP Inc. $DOO

Morningstar Investment Management LLC acquired a new stake in shares of BRP Inc. (NASDAQ:DOO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,653 shares of the company’s stock, valued at approximately $824,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC bought a new position in BRP during the fourth quarter valued at approximately $43,000. PNC Financial Services Group Inc. bought a new position in BRP during the fourth quarter valued at approximately $142,000. Intact Investment Management Inc. bought a new position in BRP during the fourth quarter valued at approximately $156,000. DekaBank Deutsche Girozentrale bought a new position in BRP during the fourth quarter valued at approximately $284,000. Finally, Annex Advisory Services LLC bought a new position in BRP during the fourth quarter valued at approximately $279,000.

BRP Stock Performance

DOO opened at $55.38 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.27 and a debt-to-equity ratio of 3.92. BRP Inc. has a 1-year low of $35.02 and a 1-year high of $81.89. The company has a market capitalization of $4.08 billion, a P/E ratio of 19.03 and a beta of 0.90. The stock has a 50 day simple moving average of $61.90.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from BRP’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, April 10th. BRP’s dividend payout ratio is currently 24.74%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DOO shares. National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada decreased their price target on shares of BRP from $124.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. TD Securities downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Zacks Research downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wall Street Zen downgraded shares of BRP from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.67.

BRP Company Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three?wheel on?road vehicles.