BRP Inc (NASDAQ:DOOO) Short Interest Down 39.0% in November

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BRP Inc (NASDAQ:DOOO) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 563,200 shares, a drop of 39.0% from the October 31st total of 923,700 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average trading volume of 46,500 shares, the short-interest ratio is currently 12.1 days.

A number of institutional investors have recently modified their holdings of DOOO. Usca Ria LLC acquired a new stake in BRP in the 3rd quarter worth about $39,000. Wells Fargo & Company MN raised its stake in BRP by 81.1% in the 2nd 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in BRP by 944.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,949 shares of the company’s stock worth $142,000 after purchasing an additional 3,571 shares in the last quarter. Annex Advisory Services LLC acquired a new position in shares of BRP in the 2nd quarter valued at approximately $208,000. Finally, Signition LP raised its position in shares of BRP by 11.1% in the 3rd quarter. Signition LP now owns 7,000 shares of the company’s stock valued at $273,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 24.28% of the company’s stock.

Shares of NASDAQ DOOO traded up $1.13 during mid-day trading on Wednesday, reaching $48.67. 68,385 shares of the company were exchanged, compared to its average volume of 35,990. BRP has a twelve month low of $23.90 and a twelve month high of $51.46. The company’s 50-day simple moving average is $45.41 and its 200-day simple moving average is $37.24. The stock has a market capitalization of $4.48 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.17 and a beta of 2.06.

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. BRP had a net margin of 5.66% and a negative return on equity of 73.58%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.14 billion. As a group, analysts expect that BRP will post 2.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.076 dividend. This is a boost from BRP’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $0.30 annualized dividend and a yield of 0.62%. BRP’s payout ratio is 12.61%.

DOOO has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of BRP from a “strong-buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 31st. ValuEngine cut shares of BRP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. 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 target price on shares of BRP and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Northcoast Research restated a “buy” rating on shares of BRP in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $49.69.

About BRP

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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