BRP Inc (NASDAQ:DOOO) Short Interest Update

BRP Inc (NASDAQ:DOOO) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 378,500 shares, a growth of 118.0% from the August 30th total of 173,600 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 28,700 shares, the short-interest ratio is currently 13.2 days.

DOOO has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of BRP from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Tuesday, July 30th. Desjardins set a $66.00 price target on shares of BRP and gave the company a “buy” rating in a research report on Friday, August 30th. Northcoast Research reiterated a “buy” rating on shares of BRP in a research report on Friday. Finally, TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $45.69.

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of BRP by 81.1% in the second quarter. Wells Fargo & Company MN now owns 2,408 shares of the company’s stock worth $86,000 after purchasing an additional 1,078 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in BRP by 944.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,949 shares of the company’s stock worth $142,000 after acquiring an additional 3,571 shares during the period. Annex Advisory Services LLC purchased a new stake in BRP in the second quarter worth $208,000. Addenda Capital Inc. purchased a new stake in BRP in the second quarter worth $278,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in BRP in the first quarter worth $391,000. Hedge funds and other institutional investors own 27.70% of the company’s stock.

Shares of BRP stock traded up $0.95 on Friday, hitting $39.61. The stock had a trading volume of 20,267 shares, compared to its average volume of 50,648. BRP has a one year low of $23.90 and a one year high of $46.14. The stock has a market cap of $3.57 billion and a price-to-earnings ratio of 16.64. The stock’s 50-day simple moving average is $36.74 and its two-hundred day simple moving average is $33.21.

BRP (NASDAQ:DOOO) last issued its earnings results on Thursday, August 29th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. BRP had a net margin of 5.11% and a negative return on equity of 73.27%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.01 billion. On average, equities analysts anticipate that BRP will post 2.79 EPS 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 issued a $0.0752 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, September 26th. BRP’s dividend payout ratio is 12.61%.

BRP Company Profile

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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