BRP Inc (NASDAQ:DOOO) Short Interest Down 56.0% in January

BRP Inc (NASDAQ:DOOO) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 361,700 shares, a drop of 56.0% from the December 31st total of 822,400 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 79,400 shares, the short-interest ratio is currently 4.6 days.

Several equities analysts have recently issued reports on DOOO shares. Northcoast Research reaffirmed a “buy” rating on shares of BRP in a research note on Friday, October 11th. ValuEngine downgraded shares of BRP from a “sell” rating to a “strong sell” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research downgraded shares of BRP from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $49.69.

Hedge funds have recently added to or reduced their stakes in the company. Usca Ria LLC bought a new position in shares of BRP during the third quarter valued at $39,000. Wells Fargo & Company MN raised its stake in shares of BRP by 81.1% during the second quarter. Wells Fargo & Company MN now owns 2,408 shares of the company’s stock valued at $86,000 after acquiring an additional 1,078 shares during the last quarter. Signition LP raised its stake in shares of BRP by 11.1% during the third quarter. Signition LP now owns 7,000 shares of the company’s stock valued at $273,000 after acquiring an additional 700 shares during the last quarter. CLARET ASSET MANAGEMENT Corp raised its stake in shares of BRP by 45.7% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 11,039 shares of the company’s stock valued at $430,000 after acquiring an additional 3,463 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of BRP during the third quarter valued at $498,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

Shares of DOOO stock traded up $0.98 during trading hours on Tuesday, hitting $51.06. 44,367 shares of the company’s stock traded hands, compared to its average volume of 72,026. The stock’s 50 day simple moving average is $46.66 and its 200 day simple moving average is $41.13. The stock has a market cap of $4.44 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.98. BRP has a 12 month low of $26.34 and a 12 month high of $51.46.

BRP (NASDAQ:DOOO) last released its quarterly earnings results on Wednesday, November 27th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.19. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.14 billion. BRP had a net margin of 5.66% and a negative return on equity of 73.58%. Equities analysts forecast that BRP will post 2.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.076 per share. The ex-dividend date was Thursday, December 26th. This represents a $0.30 annualized dividend and a dividend yield of 0.60%. This is an increase from BRP’s previous quarterly dividend of $0.07. BRP’s dividend payout ratio (DPR) is presently 13.03%.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.

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