BRP Inc (NASDAQ:DOOO) Sees Large Growth in Short Interest

BRP Inc (NASDAQ:DOOO) saw a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 689,400 shares, a growth of 19.0% from the November 14th total of 579,100 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 64,500 shares, the days-to-cover ratio is currently 10.7 days.

Several large investors have recently modified their holdings of DOOO. Usca Ria LLC purchased a new stake in shares of BRP during the 3rd quarter worth approximately $39,000. Wells Fargo & Company MN lifted its position in shares of BRP by 81.1% during the 2nd quarter. Wells Fargo & Company MN now owns 2,408 shares of the company’s stock worth $86,000 after buying an additional 1,078 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of BRP by 944.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,949 shares of the company’s stock worth $142,000 after buying an additional 3,571 shares during the last quarter. Signition LP lifted its position in shares of BRP by 11.1% during the 3rd quarter. Signition LP now owns 7,000 shares of the company’s stock worth $273,000 after buying an additional 700 shares during the last quarter. Finally, CLARET ASSET MANAGEMENT Corp lifted its position in shares of BRP by 45.7% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 11,039 shares of the company’s stock worth $430,000 after buying an additional 3,463 shares during the last quarter. Institutional investors and hedge funds own 24.28% of the company’s stock.

Shares of NASDAQ:DOOO traded down $0.55 during trading on Friday, hitting $45.51. 66,578 shares of the company were exchanged, compared to its average volume of 91,490. The stock has a market capitalization of $4.10 billion, a P/E ratio of 19.12, a PEG ratio of 1.07 and a beta of 2.06. BRP has a 12-month low of $23.90 and a 12-month high of $51.46. The firm’s 50 day moving average price is $46.48 and its 200-day moving average price is $38.17.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, November 27th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.14 billion. BRP had a net margin of 5.66% and a negative return on equity of 73.58%. As a group, analysts forecast that BRP will post 2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.076 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, December 26th. This is an increase from BRP’s previous quarterly dividend of $0.07. BRP’s payout ratio is currently 12.61%.

A number of research analysts recently issued reports on DOOO shares. Zacks Investment Research downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Desjardins set a $66.00 price objective on shares of BRP and gave the stock a “buy” rating in a research report on Friday, August 30th. Northcoast Research restated a “buy” rating on shares of BRP in a research report on Friday, October 11th. Finally, ValuEngine downgraded shares of BRP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.69.

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.

See Also: Retained Earnings

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