BRP (NASDAQ:DOOO) Sees Strong Trading Volume – Here’s What Happened

BRP Inc. (NASDAQ:DOOO) shares saw unusually-high trading volume on Tuesday . Approximately 113,429 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 168,589 shares.The stock last traded at $44.58 and had previously closed at $43.95.

Analyst Ratings Changes

Separately, Citigroup cut shares of BRP from a “buy” rating to a “neutral” rating in a report on Monday. Seven analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BRP has an average rating of “Hold” and an average price target of $97.00.

BRP Trading Up 0.7 %

The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The firm has a fifty day moving average of $50.94 and a 200 day moving average of $57.13. The firm has a market capitalization of $3.23 billion, a PE ratio of 23.64 and a beta of 2.02.

BRP (NASDAQ:DOOO) last announced its earnings results on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. Equities research analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.1485 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.34%. BRP’s dividend payout ratio is currently 30.85%.

Institutional Trading of BRP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. The Manufacturers Life Insurance Company lifted its position in shares of BRP by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after purchasing an additional 150,039 shares in the last quarter. Franklin Resources Inc. boosted its position in BRP by 41.5% in the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock valued at $43,461,000 after buying an additional 214,626 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after acquiring an additional 61,502 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings in BRP by 27.5% in the third quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company’s stock valued at $13,233,000 after acquiring an additional 47,800 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in BRP by 8.3% in the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after purchasing an additional 15,892 shares during the period.

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.