BRP (NASDAQ:DOOO) Shares Up 2.6% – What’s Next?

Shares of BRP Inc. (NASDAQ:DOOO) shot up 2.6% during trading on Tuesday . The stock traded as high as $34.27 and last traded at $34.69. 39,796 shares were traded during mid-day trading, a decline of 72% from the average session volume of 144,296 shares. The stock had previously closed at $33.81.

Wall Street Analysts Forecast Growth

Separately, Citigroup reiterated a “sell” rating and issued a $27.00 target price (down previously from $29.00) on shares of BRP in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.40.

BRP Price Performance

The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 18.77 and a beta of 2.03. The stock’s fifty day moving average price is $42.17 and its two-hundred day moving average price is $49.21. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. Equities research analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.1508 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.71%. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio (DPR) is presently -29.21%.

Institutional Inflows and Outflows

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

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.