BRP Inc. (NASDAQ:DOOO) Short Interest Up 6.5% in August

BRP Inc. (NASDAQ:DOOO) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,790,000 shares, a growth of 6.5% from the August 15th total of 1,680,000 shares. Approximately 5.6% of the shares of the stock are short sold. Based on an average trading volume of 110,500 shares, the short-interest ratio is presently 16.2 days.

Hedge Funds Weigh In On BRP

Hedge funds have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd raised its holdings in BRP by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Trivant Custom Portfolio Group LLC acquired a new stake in BRP during the 1st quarter worth $50,000. Dnca Finance bought a new position in BRP during the second quarter worth about $66,000. Lake Street Advisors Group LLC acquired a new position in BRP in the second quarter valued at about $201,000. Finally, Intech Investment Management LLC bought a new stake in shares of BRP in the second quarter worth about $209,000.

BRP Trading Up 1.0 %

DOOO traded up $0.58 during trading on Tuesday, reaching $61.07. 139,445 shares of the company’s stock were exchanged, compared to its average volume of 125,030. The company’s fifty day moving average price is $67.81 and its 200-day moving average price is $66.76. The firm has a market capitalization of $4.53 billion, a PE ratio of 11.08 and a beta of 2.07. BRP has a fifty-two week low of $57.15 and a fifty-two week high of $79.40. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.46 and a current ratio of 1.32.

BRP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.152 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 1.00%. BRP’s dividend payout ratio is presently 10.85%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DOOO shares. Cibc World Mkts downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Scotiabank downgraded shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Citigroup lowered their target price on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.00.

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.