BRP Inc. (NASDAQ:DOOO) Short Interest Update

BRP Inc. (NASDAQ:DOOO) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 267,100 shares, a decrease of 46.3% from the March 15th total of 497,600 shares. Based on an average daily volume of 109,400 shares, the short-interest ratio is presently 2.4 days. Currently, 0.7% of the company’s shares are sold short.

A number of analysts recently weighed in on DOOO shares. Robert W. Baird reiterated a “buy” rating and issued a $85.00 price target on shares of BRP in a research report on Friday, March 19th. Zacks Investment Research upgraded shares of BRP from a “hold” rating to a “strong-buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, March 30th. BMO Capital Markets increased their target price on BRP from $74.00 to $98.00 and gave the stock a “market perform” rating in a research note on Friday, March 26th. TD Securities cut BRP to a “buy” rating in a research note on Friday, March 26th. Finally, Canaccord Genuity increased their target price on BRP from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, March 26th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $93.09.

NASDAQ DOOO opened at $91.35 on Thursday. The company has a market cap of $8.03 billion, a PE ratio of 51.03 and a beta of 3.04. BRP has a 12 month low of $17.36 and a 12 month high of $93.64. The stock has a 50 day moving average of $80.33 and a 200-day moving average of $66.61.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Wednesday, March 24th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.13. BRP had a negative return on equity of 67.06% and a net margin of 3.78%. As a group, equities analysts predict that BRP will post 3.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 19th. Stockholders of record on Monday, April 5th will be issued a dividend of $0.1031 per share. The ex-dividend date is Thursday, April 1st. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.45%. This is an increase from BRP’s previous quarterly dividend of $0.08. BRP’s dividend payout ratio (DPR) is currently 12.15%.

Several institutional investors and hedge funds have recently bought and sold shares of DOOO. Dimensional Fund Advisors LP increased its position in shares of BRP by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,858 shares of the company’s stock worth $584,000 after purchasing an additional 781 shares during the period. Norges Bank bought a new stake in shares of BRP during the fourth quarter worth about $40,156,000. UBS Asset Management Americas Inc. lifted its stake in shares of BRP by 5.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 46,322 shares of the company’s stock worth $3,057,000 after acquiring an additional 2,600 shares during the period. Tacita Capital Inc acquired a new position in shares of BRP in the fourth quarter worth approximately $69,000. Finally, Morgan Stanley lifted its stake in shares of BRP by 204.2% in the fourth quarter. Morgan Stanley now owns 299,938 shares of the company’s stock worth $19,790,000 after acquiring an additional 201,350 shares during the period. 30.52% of the stock is owned by institutional investors.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products worldwide. It operates in two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, such as snowmobiles and personal watercraft; and engines for jet boats, outboards, karts, motorcycles, and recreational aircraft.

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