BRP Inc. (NASDAQ:DOO) Stock Short Interest Report for September

BRP Inc. (NASDAQ:DOO) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 698,456 shares, a drop of 47.7% from the September 15th total of 1,335,727 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average trading volume of 252,899 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Scotiabank restated a “sector perform” rating on shares of BRP in a research report on Friday, September 4th. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a research 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. Zacks Research cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 8th. Finally, National Bank Financial upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 3rd. 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.00.

Institutional Trading of BRP

Several large investors have recently bought and sold shares of DOO. Lazard Asset Management LLC grew its holdings in BRP by 324.1% during the 1st quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after acquiring an additional 116,189 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of BRP by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock worth $65,728,000 after acquiring an additional 23,055 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in BRP by 11.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock worth $14,805,000 after buying an additional 20,786 shares in the last quarter. Walleye Capital LLC boosted its position in BRP by 224.1% during the 2nd quarter. Walleye Capital LLC now owns 29,035 shares of the company’s stock worth $1,772,000 after acquiring an additional 20,077 shares during the period. Finally, VELA Investment Management LLC raised its position in shares of BRP by 60.7% during the 2nd quarter. VELA Investment Management LLC now owns 45,333 shares of the company’s stock worth $2,766,000 after buying an additional 17,131 shares in the last quarter.

BRP Trading Up 6.5%

NASDAQ:DOO traded up $3.40 on Thursday, reaching $55.83. The stock had a trading volume of 292,072 shares, compared to its average volume of 306,317. BRP has a 12-month low of $48.83 and a 12-month high of $81.89. The firm’s fifty day moving average is $60.41 and its two-hundred day moving average is $60.63. The company has a debt-to-equity ratio of 7.31, a current ratio of 1.19 and a quick ratio of 0.52. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 50.75 and a beta of 0.97.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 29th were issued a dividend of C$0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 29th. BRP’s dividend payout ratio is presently 65.45%.

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.