Short Interest in BRP Inc. (NASDAQ:DOOO) Declines By 6.5%

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

Wall Street Analyst Weigh In

Several analysts have weighed in on DOOO shares. UBS Group dropped their price objective on BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Scotiabank lowered BRP from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, September 9th. Finally, Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.00.

Check Out Our Latest Stock Report on DOOO

BRP Price Performance

BRP stock opened at $51.27 on Thursday. The firm has a market capitalization of $3.74 billion, a P/E ratio of 9.27 and a beta of 2.06. BRP has a 1 year low of $49.92 and a 1 year high of $77.12. The business has a 50-day moving average of $61.03 and a 200-day moving average of $64.85. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99.

BRP (NASDAQ:DOOOGet Free Report) last issued its quarterly earnings data 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 return on equity of 79.58% and a net margin of 2.78%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. On average, equities analysts anticipate that BRP will post 2.21 EPS for the current year.

BRP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given 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 1.19%. BRP’s dividend payout ratio is presently 11.21%.

Hedge Funds Weigh In On BRP

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE grew its position in shares of BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares during the period. UniSuper Management Pty Ltd boosted its position in BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Dnca Finance acquired a new position in BRP during the 2nd quarter worth approximately $66,000. Spartan Fund Management Inc. acquired a new position in BRP during the 3rd quarter worth approximately $72,000. Finally, Lake Street Advisors Group LLC acquired a new position in BRP during the 2nd quarter worth approximately $201,000.

BRP Company Profile

(Get Free Report)

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.

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