BRP (NASDAQ:DOOO) Shares Gap Up – Here’s Why

BRP Inc. (NASDAQ:DOOO) gapped up prior to trading on Friday . The stock had previously closed at $48.52, but opened at $52.76. BRP shares last traded at $53.16, with a volume of 116,788 shares.

Analysts Set New Price Targets

DOOO has been the topic of a number of research reports. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Desjardins lowered shares of BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. UBS Group cut their price objective on shares of BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Citigroup cut 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. Six 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $97.00.

BRP Trading Up 7.9 %

The stock has a market capitalization of $3.82 billion, a PE ratio of 21.66 and a beta of 2.03. The company’s 50 day moving average price is $52.41 and its two-hundred day moving average price is $61.12. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping 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 company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. As a group, analysts expect that BRP Inc. will post 2.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOOO. Franklin Resources Inc. lifted its position in shares of 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 buying an additional 214,626 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after buying an additional 15,892 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of BRP during the 3rd quarter worth approximately $178,000. Systematic Financial Management LP lifted its position in shares of BRP by 3.0% during the 3rd quarter. Systematic Financial Management LP now owns 192,084 shares of the company’s stock worth $11,437,000 after buying an additional 5,562 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of BRP by 115.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company’s stock worth $1,124,000 after buying an additional 10,106 shares during the last quarter.

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.