BRP Inc. (NASDAQ:DOOO) Short Interest Update

BRP Inc. (NASDAQ:DOOO - Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,360,000 shares, an increase of 16.3% from the October 15th total of 2,030,000 shares. Approximately 7.5% of the shares of the stock are sold short. Based on an average trading volume of 129,200 shares, the days-to-cover ratio is currently 18.3 days.

Hedge Funds Weigh In On BRP

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. purchased a new position in BRP in the first quarter valued at $5,376,000. Shell Asset Management Co. grew its stake in shares of BRP by 160.2% during the first quarter. Shell Asset Management Co. now owns 17,795 shares of the company's stock worth $1,196,000 after purchasing an additional 10,957 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in BRP by 23.9% in the first quarter. 1832 Asset Management L.P. now owns 122,549 shares of the company's stock valued at $8,223,000 after buying an additional 23,678 shares during the last quarter. National Bank of Canada FI raised its stake in BRP by 17.6% in the first quarter. National Bank of Canada FI now owns 422,358 shares of the company's stock valued at $29,664,000 after buying an additional 63,060 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of BRP in the 1st quarter valued at about $2,422,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Cibc World Mkts downgraded BRP from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 9th. Stifel Nicolaus downgraded shares of BRP from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. National Bank Financial downgraded shares of BRP from an "outperform" rating to a "sector perform" rating in a report on Wednesday, August 21st. Scotiabank cut BRP from a "sector outperform" rating to a "sector perform" rating in a report on Monday, September 9th. Finally, Desjardins cut shares of BRP from a "moderate buy" rating to a "hold" rating in a research note on Sunday, September 8th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $97.00.

BRP Price Performance

Shares of BRP stock traded up $0.38 during trading hours on Friday, reaching $48.09. The stock had a trading volume of 91,327 shares, compared to its average volume of 125,162. The firm has a market capitalization of $3.51 billion, a PE ratio of 19.95 and a beta of 2.07. The stock's 50 day moving average is $55.77 and its 200 day moving average is $63.06. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99. BRP has a twelve month low of $47.36 and a twelve month high of $75.92.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.35 billion. Equities analysts expect that BRP will post 2.3 earnings per share for the current fiscal year.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, September 27th. BRP's dividend payout ratio (DPR) is 25.73%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.