BRP Inc. (NASDAQ:DOOO) Short Interest Update

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

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in 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 in the last quarter. Dnca Finance purchased a new stake in BRP in the 2nd quarter valued at approximately $66,000. Spartan Fund Management Inc. purchased a new position in BRP during the third quarter worth $72,000. DRW Securities LLC purchased a new position in BRP during the third quarter worth $161,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of BRP in the third quarter worth $178,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOOO. UBS Group reduced their price objective on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Desjardins lowered shares of BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Finally, Scotiabank downgraded shares of BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.00.

BRP Stock Down 0.4 %

Shares of BRP stock opened at $49.42 on Wednesday. The company has a market cap of $3.61 billion, a P/E ratio of 20.51 and a beta of 2.03. The firm has a fifty day moving average of $52.86 and a two-hundred day moving average of $61.30. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP has a one year low of $46.85 and a one year high of $75.59.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. BRP had a return on equity of 79.58% and a net margin of 2.78%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. On average, analysts forecast that BRP will post 2.26 earnings per share for the current year.

BRP Announces Dividend

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

About BRP

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.