BRP (NASDAQ:DOOO) Shares Gap Up Following Earnings Beat

BRP Inc. (NASDAQ:DOOO)’s share price gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $35.54, but opened at $38.10. BRP shares last traded at $39.27, with a volume of 192,558 shares changing hands.

The company reported $0.69 earnings per share (EPS) for the quarter, topping 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%.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered shares of BRP from a “neutral” rating to a “sell” rating and cut their target price for the company from $48.00 to $29.00 in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, BRP currently has an average rating of “Hold” and a consensus price target of $87.80.

Institutional Trading of BRP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOOO. Mackenzie Financial Corp raised its holdings in shares of BRP by 71.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after purchasing an additional 684,651 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in BRP by 401.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock worth $765,000 after purchasing an additional 12,023 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock worth $1,823,000 after buying an additional 293 shares during the last quarter. Turtle Creek Asset Management Inc. grew its holdings in shares of BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after acquiring an additional 668,607 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of BRP by 5.4% during the fourth quarter. Systematic Financial Management LP now owns 202,425 shares of the company’s stock valued at $10,297,000 after acquiring an additional 10,341 shares during the last quarter.

BRP Stock Up 10.5 %

The stock has a 50-day moving average of $43.56 and a 200 day moving average of $49.91. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $2.87 billion, a PE ratio of 20.81 and a beta of 2.03.

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.