BRP (NASDAQ:DOOO) Trading Up 2.6% – Here’s What Happened

BRP Inc. (NASDAQ:DOOO)’s share price rose 2.6% during trading on Tuesday . The company traded as high as $34.27 and last traded at $34.69. Approximately 39,796 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 144,296 shares. The stock had previously closed at $33.81.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DOOO shares. Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Citigroup reissued a “sell” rating and set a $27.00 price objective (down from $29.00) on shares of BRP in a report on Friday, March 28th. Finally, TD Securities reiterated a “hold” rating on shares of BRP in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.00.

BRP Trading Up 2.3 %

The stock has a fifty day moving average of $41.48 and a 200 day moving average of $48.94. The company has a market capitalization of $2.67 billion, a P/E ratio of 19.45 and a beta of 2.03. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The business 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%. As a group, equities research analysts anticipate that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a $0.1508 dividend. This is a boost from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, April 4th. BRP’s dividend payout ratio (DPR) is presently -29.21%.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its position 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 buying an additional 684,651 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of BRP by 401.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock valued at $765,000 after acquiring an additional 12,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 purchasing an additional 293 shares during the period. Turtle Creek Asset Management Inc. lifted its holdings in BRP by 29.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock worth $151,118,000 after buying an additional 668,607 shares during the period. Finally, Systematic Financial Management LP lifted its stake in shares of 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.