BRP Inc. (NASDAQ:DOO – Get Free Report) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 698,456 shares, a decline of 47.7% from the September 15th total of 1,335,727 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 252,899 shares, the short-interest ratio is presently 2.8 days.
BRP Trading Down 2.3%
Shares of BRP stock traded down $1.29 during midday trading on Friday, reaching $54.54. The company had a trading volume of 237,475 shares, compared to its average volume of 306,108. The stock has a fifty day moving average price of $60.25 and a 200 day moving average price of $60.56. The company has a debt-to-equity ratio of 7.31, a current ratio of 1.19 and a quick ratio of 0.52. BRP has a fifty-two week low of $48.83 and a fifty-two week high of $81.89. The firm has a market cap of $3.88 billion, a PE ratio of 49.79 and a beta of 0.97.
BRP Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 29th were paid a C$0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 29th. BRP’s payout ratio is 65.45%.
Hedge Funds Weigh In On BRP
Several large investors have recently added to or reduced their stakes in DOO. Caitong International Asset Management Co. Ltd boosted its holdings in shares of BRP by 4,070.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $43,000 after purchasing an additional 692 shares during the period. Nykredit A S bought a new stake in BRP in the second quarter worth $61,000. NewEdge Advisors LLC purchased a new stake in shares of BRP during the 2nd quarter valued at about $79,000. State of Wyoming lifted its stake in shares of BRP by 21.4% in the 2nd quarter. State of Wyoming now owns 2,317 shares of the company’s stock valued at $141,000 after purchasing an additional 408 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of BRP in the second quarter valued at $214,000.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Scotiabank restated a “sector perform” rating on shares of BRP in a research report on Friday, September 4th. Weiss Ratings cut BRP from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Tuesday, August 18th. Wall Street Zen cut BRP from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Zacks Research downgraded BRP from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.00.
Check Out Our Latest Research Report on DOO
About BRP
BRP Inc, formerly known as Bombardier Recreational Products, is a Canadian company that designs, develops, manufactures, distributes and markets powersports vehicles, marine products, engines and related parts, accessories and apparel. The company serves recreational and commercial customers through a portfolio of products sold internationally.
BRP’s principal brands include Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am off-road and three-wheel vehicles, Alumacraft and Manitou boats, and Rotax engines.
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