BRP Inc (NASDAQ:DOOO) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 923,700 shares, a growth of 144.0% from the September 15th total of 378,500 shares. Based on an average daily trading volume, of 39,900 shares, the short-interest ratio is presently 23.2 days. Currently, 2.4% of the company’s shares are sold short.
Shares of BRP stock traded up $1.06 on Monday, reaching $44.39. 28,700 shares of the company’s stock were exchanged, compared to its average volume of 32,349. The company has a market capitalization of $3.92 billion and a P/E ratio of 18.66. BRP has a 52 week low of $23.90 and a 52 week high of $45.06. The firm’s 50-day moving average is $39.44 and its two-hundred day moving average is $34.20.
BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.01 billion. BRP had a negative return on equity of 73.27% and a net margin of 5.11%. Sell-side analysts forecast that BRP will post 2.82 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.0752 per share. This represents a dividend yield of 0.8%. The ex-dividend date was Thursday, September 26th. BRP’s payout ratio is 12.61%.
A number of research firms have issued reports on DOOO. Northcoast Research restated a “buy” rating on shares of BRP in a report on Friday, October 11th. Zacks Investment Research upgraded BRP from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Tuesday, July 30th. Desjardins set a $66.00 price target on BRP and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, TD Securities upgraded BRP from a “hold” rating to a “buy” rating in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.69.
Several large investors have recently modified their holdings of DOOO. Nuveen Asset Management LLC acquired a new position in shares of BRP during the second quarter worth approximately $28,370,000. FMR LLC raised its position in shares of BRP by 700.7% during the first quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after purchasing an additional 573,296 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of BRP during the second quarter worth approximately $11,874,000. JPMorgan Chase & Co. raised its position in shares of BRP by 562.8% during the second quarter. JPMorgan Chase & Co. now owns 382,323 shares of the company’s stock worth $13,632,000 after purchasing an additional 324,639 shares during the period. Finally, Bank of Montreal Can raised its position in shares of BRP by 8.7% during the second quarter. Bank of Montreal Can now owns 1,524,414 shares of the company’s stock worth $54,635,000 after purchasing an additional 121,841 shares during the period. 27.69% of the stock is currently owned by institutional investors.
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.
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