Best Stocks to Buy – BRP Inc. (NASDAQ:DOOO) Short Interest Down 22.6% in May
BRP Inc. (NASDAQ:DOOO) saw a large decrease in short interest during the month of May. As of May 28th, there was short interest totalling 309,200 shares, a decrease of 22.6% from the May 13th total of 399,700 shares. Based on an average trading volume of 126,900 shares, the short-interest ratio is presently 2.4 days. Currently, 0.8% of the company’s stock are sold short.
Shares of DOOO stock traded down $2.03 during trading hours on Wednesday, hitting $77.92. 131,229 shares of the company were exchanged, compared to its average volume of 111,791. The company’s fifty day moving average price is $85.85. BRP has a 52-week low of $38.43 and a 52-week high of $96.44. The firm has a market cap of $6.60 billion, a PE ratio of 10.87 and a beta of 3.02.
BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Wednesday, June 2nd. The company reported $2.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $1.53. BRP had a net margin of 12.80% and a negative return on equity of 149.93%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.64 billion. The company’s revenue was up 47.1% on a year-over-year basis. As a group, equities research analysts forecast that BRP will post 6.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Investors of record on Friday, July 2nd will be issued a $0.1074 dividend. The ex-dividend date of this dividend is Thursday, July 1st. This is an increase from BRP’s previous quarterly dividend of $0.10. This represents a $0.43 annualized dividend and a yield of 0.55%. BRP’s dividend payout ratio (DPR) is 2.24%.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of BRP from C$98.00 to C$100.00 and gave the stock a “market perform” rating in a report on Monday, June 7th. TD Securities lowered shares of BRP to a “buy” rating in a report on Friday, March 26th. National Bank Financial restated an “outperform” rating on shares of BRP in a report on Tuesday, February 23rd. Desjardins upped their target price on shares of BRP from $107.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Finally, BNP Paribas initiated coverage on shares of BRP in a research note on Monday. They issued an “outperform” rating and a $133.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. BRP presently has an average rating of “Buy” and a consensus target price of $106.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its holdings in BRP by 33.9% in the 4th quarter. Mackenzie Financial Corp now owns 6,103,186 shares of the company’s stock worth $401,956,000 after buying an additional 1,545,092 shares during the period. FMR LLC boosted its holdings in BRP by 700.7% in the 1st quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after buying an additional 573,296 shares during the period. Pembroke Management LTD boosted its holdings in BRP by 14.8% in the 4th quarter. Pembroke Management LTD now owns 621,168 shares of the company’s stock worth $52,234,000 after buying an additional 80,185 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in BRP by 13.8% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 618,185 shares of the company’s stock worth $53,625,000 after buying an additional 75,100 shares during the period. Finally, Norges Bank bought a new position in BRP in the 4th quarter worth approximately $40,156,000. 35.16% of the stock is owned by institutional investors.
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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