Turtle Creek Asset Management Inc. Sells 502,536 Shares of BRP Inc. $DOO

Turtle Creek Asset Management Inc. lowered its holdings in BRP Inc. (NASDAQ:DOO) by 68.1% in the first quarter, Holdings Channel reports. The firm owned 235,010 shares of the company’s stock after selling 502,536 shares during the quarter. BRP comprises about 0.6% of Turtle Creek Asset Management Inc.’s holdings, making the stock its 28th biggest position. Turtle Creek Asset Management Inc.’s holdings in BRP were worth $16,876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in shares of BRP during the 4th quarter worth about $207,651,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of BRP in the fourth quarter valued at about $169,341,000. Capital World Investors bought a new stake in BRP during the fourth quarter worth about $158,763,000. FIL Ltd bought a new stake in BRP during the fourth quarter worth about $123,110,000. Finally, Vanguard Group Inc. acquired a new position in BRP during the fourth quarter valued at approximately $98,153,000.

BRP Trading Down 2.2%

Shares of NASDAQ:DOO opened at $61.14 on Thursday. BRP Inc. has a 52-week low of $48.67 and a 52-week high of $81.89. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30. The company has a market capitalization of $4.48 billion, a P/E ratio of 23.07 and a beta of 0.89. The company has a 50-day simple moving average of $59.68 and a 200 day simple moving average of $65.71.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a $0.25 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 1.6%. BRP’s dividend payout ratio is currently 26.42%.

Analyst Upgrades and Downgrades

DOO has been the subject of a number of analyst reports. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Scotiabank reiterated a “sector perform” rating on shares of BRP in a research note on Friday, July 24th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of BRP in a report on Friday, May 29th. TD Securities reissued a “hold” rating on shares of BRP in a report on Friday, May 29th. Finally, Canaccord Genuity Group cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, BRP currently has an average rating of “Hold” and an average target price of $83.00.

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.