BRP (NASDAQ:DOOO) Shares Up 2.6% - Here's What Happened

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s share price shot up 2.6% during trading on Tuesday . The company traded as high as $34.27 and last traded at $34.69. 39,796 shares were traded during mid-day trading, a decline of 72% from the average session volume of 144,296 shares. The stock had previously closed at $33.81.

Analyst Ratings Changes

Several research firms recently commented on DOOO. TD Securities reaffirmed a "hold" rating on shares of BRP in a research report on Thursday, March 27th. Citigroup raised BRP from a "sell" rating to a "neutral" rating and raised their target price for the stock from $27.00 to $37.00 in a research report on Friday. Raymond James reaffirmed a "strong-buy" rating on shares of BRP in a research report on Thursday, March 27th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $43.00 price objective (down previously from $48.00) on shares of BRP in a research note on Friday. Nine analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, BRP presently has an average rating of "Hold" and a consensus target price of $61.25.

BRP Trading Down 0.1 %

The stock has a market capitalization of $2.58 billion, a PE ratio of 18.81 and a beta of 1.71. The stock's 50 day moving average price is $40.77 and its 200-day moving average price is $48.58. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, sell-side analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

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BRP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a $0.1508 dividend. This represents a $0.60 annualized dividend and a yield of 1.71%. This is an increase from BRP's previous quarterly dividend of $0.15. The ex-dividend date is Friday, April 4th. BRP's dividend payout ratio is presently -29.21%.

Hedge Funds Weigh In On BRP

Several hedge funds have recently modified their holdings of DOOO. Public Employees Retirement System of Ohio purchased a new stake in BRP in the 3rd quarter worth $178,000. Geode Capital Management LLC increased its stake in BRP by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock worth $12,978,000 after acquiring an additional 15,892 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock worth $43,461,000 after acquiring an additional 214,626 shares in the last quarter. Addenda Capital Inc. boosted its position in shares of BRP by 10.5% during the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company's stock valued at $678,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in BRP by 699.9% during the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock valued at $3,875,000 after purchasing an additional 66,627 shares during the last quarter.

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.