BRP Inc. (NASDAQ:DOOO) Short Interest Down 6.5% in October

BRP Inc. (NASDAQ:DOOO - Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,030,000 shares, a decline of 6.5% from the September 30th total of 2,170,000 shares. Based on an average trading volume of 123,000 shares, the short-interest ratio is presently 16.5 days. Currently, 6.4% of the shares of the stock are sold short.

BRP Stock Down 3.7 %

Shares of DOOO stock traded down $1.91 on Thursday, reaching $49.36. 104,635 shares of the company's stock traded hands, compared to its average volume of 124,216. The business's 50 day moving average price is $60.69 and its two-hundred day moving average price is $64.75. The company has a market capitalization of $3.60 billion, a P/E ratio of 9.08 and a beta of 2.06. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP has a 12-month low of $49.33 and a 12-month high of $77.12.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. On average, equities analysts forecast that BRP will post 2.21 earnings per share for the current year.

BRP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Friday, September 27th. BRP's dividend payout ratio is currently 11.21%.

Institutional Trading of BRP

A number of institutional investors have recently bought and sold shares of DOOO. US Bancorp DE increased its stake in shares of BRP by 350.0% during the 3rd quarter. US Bancorp DE now owns 414 shares of the company's stock worth $25,000 after purchasing an additional 322 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in BRP by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company's stock valued at $34,000 after buying an additional 200 shares in the last quarter. Dnca Finance acquired a new stake in shares of BRP in the second quarter worth about $66,000. Spartan Fund Management Inc. acquired a new stake in shares of BRP in the third quarter worth about $72,000. Finally, Lake Street Advisors Group LLC bought a new stake in shares of BRP during the 2nd quarter worth about $201,000.

Wall Street Analysts Forecast Growth

DOOO has been the subject of a number of research analyst reports. UBS Group cut their price target on shares of BRP from $66.00 to $65.00 and set a "neutral" rating for the company in a report on Friday, September 13th. Cibc World Mkts lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 9th. Citigroup cut their price objective on BRP from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Stifel Nicolaus cut BRP from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st. Finally, National Bank Financial lowered BRP from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $97.00.

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.