BRP Inc. (NASDAQ:DOOO) Short Interest Update

BRP Inc. (NASDAQ:DOOO) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,600,000 shares, a growth of 10.2% from the October 31st total of 2,360,000 shares. Based on an average daily volume of 145,100 shares, the short-interest ratio is currently 17.9 days. Currently, 12.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DOOO shares. UBS Group cut their price objective on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Citigroup decreased their price objective on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.00.

BRP Trading Up 1.8 %

Shares of NASDAQ:DOOO traded up $0.87 during midday trading on Monday, hitting $49.60. 137,809 shares of the stock were exchanged, compared to its average volume of 127,747. The business’s 50-day moving average price is $53.31 and its 200 day moving average price is $61.57. BRP has a 12 month low of $46.85 and a 12 month high of $75.59. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 20.22 and a beta of 2.07.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Analysts predict that BRP will post 2.26 earnings per share for the current year.

BRP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.152 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. BRP’s payout ratio is 25.73%.

Hedge Funds Weigh In On BRP

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in BRP by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after purchasing an additional 150,039 shares during the last quarter. American Century Companies Inc. boosted its position in BRP by 45.6% during the second quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after acquiring an additional 335,715 shares during the last quarter. Franklin Resources Inc. grew its holdings in BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after acquiring an additional 214,626 shares during the period. National Bank of Canada FI raised its position in shares of BRP by 13.5% in the 2nd quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock worth $30,455,000 after acquiring an additional 56,954 shares in the last quarter. Finally, QV Investors Inc. acquired a new position in shares of BRP in the 2nd quarter valued at about $28,142,000.

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.