BRP Inc. (NASDAQ:DOOO) Short Interest Down 5.6% in July

BRP Inc. (NASDAQ:DOOO) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 2,030,000 shares, a decrease of 5.6% from the June 30th total of 2,150,000 shares. Based on an average daily trading volume, of 105,100 shares, the days-to-cover ratio is presently 19.3 days. Approximately 6.2% of the shares of the company are short sold.

Hedge Funds Weigh In On BRP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd boosted its holdings in shares of BRP by 66.7% during 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 shares of BRP during the 1st quarter valued at $50,000. Dnca Finance purchased a new position in shares of BRP during the 2nd quarter valued at $66,000. Clearbridge Investments LLC acquired a new position in shares of BRP in the fourth quarter worth $211,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of BRP during the fourth quarter worth $215,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. CIBC reduced their price target on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a research report on Monday, June 3rd. Desjardins upped their price objective on shares of BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Citigroup raised their target price on shares of BRP from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BRP presently has an average rating of “Moderate Buy” and a consensus target price of $122.75.

BRP Trading Up 1.8 %

Shares of DOOO stock opened at $72.02 on Wednesday. The stock has a 50-day simple moving average of $65.37 and a 200 day simple moving average of $66.61. The stock has a market capitalization of $5.34 billion, a P/E ratio of 13.02 and a beta of 2.06. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 4.23. BRP has a fifty-two week low of $57.15 and a fifty-two week high of $92.74.

BRP (NASDAQ:DOOO) last issued its earnings results on Friday, May 31st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. BRP had a net margin of 5.87% and a return on equity of 101.72%. On average, sell-side analysts expect that BRP will post 4.49 earnings per share for the current fiscal year.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.152 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.61 dividend on an annualized basis and a yield of 0.84%. BRP’s dividend payout ratio is currently 11.03%.

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.