BRP Inc. (NASDAQ:DOOO) Short Interest Update

BRP Inc. (NASDAQ:DOOO) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,030,000 shares, a drop of 6.5% from the September 30th total of 2,170,000 shares. Based on an average daily volume of 123,000 shares, the days-to-cover ratio is presently 16.5 days. Currently, 6.4% of the shares of the company are sold short.

Institutional Investors Weigh In On BRP

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its holdings in shares of BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after acquiring an additional 322 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in BRP by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Dnca Finance bought a new stake in BRP during the 2nd quarter worth approximately $66,000. Spartan Fund Management Inc. purchased a new stake in shares of BRP in the third quarter worth approximately $72,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of BRP in the second quarter valued at approximately $201,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Scotiabank downgraded BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Citigroup dropped their target price on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, UBS Group lowered their price objective on BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.00.

BRP Stock Up 1.9 %

Shares of DOOO stock traded up $0.94 during trading on Friday, reaching $50.21. The company’s stock had a trading volume of 45,232 shares, compared to its average volume of 124,120. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The business has a fifty day moving average price of $60.69 and a 200-day moving average price of $64.75. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 20.44 and a beta of 2.06. BRP has a one year low of $49.00 and a one year high of $77.12.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. Analysts anticipate that BRP will post 2.3 earnings per share for the current year.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.152 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 1.21%. BRP’s dividend payout ratio is currently 25.73%.

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.