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.
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.
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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