Short Interest in BRP Inc (NASDAQ:DOOO) Rises By 41.5%
BRP Inc (NASDAQ:DOOO) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 235,600 shares, an increase of 41.5% from the July 31st total of 166,500 shares. Based on an average daily volume of 18,600 shares, the short-interest ratio is presently 12.7 days. Currently, 0.6% of the shares of the company are sold short.
NASDAQ:DOOO traded down $0.19 during trading hours on Friday, reaching $39.23. 26,518 shares of the company were exchanged, compared to its average volume of 26,966. The stock’s 50-day moving average is $33.33 and its 200-day moving average is $31.78. The firm has a market cap of $3.54 billion and a PE ratio of 16.48. BRP has a twelve month low of $23.90 and a twelve month high of $48.51.
BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.01 billion. BRP had a net margin of 5.11% and a negative return on equity of 73.27%. As a group, research analysts anticipate that BRP will post 2.79 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of DOOO. Nuveen Asset Management LLC acquired a new position in BRP during the second quarter worth $28,370,000. FMR LLC raised its position in BRP by 700.7% during the first quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after acquiring an additional 573,296 shares during the period. MARSHALL WACE ASIA Ltd raised its position in BRP by 82.9% during the first quarter. MARSHALL WACE ASIA Ltd now owns 877,035 shares of the company’s stock worth $24,346,000 after acquiring an additional 397,395 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in BRP during the second quarter worth $11,874,000. Finally, JPMorgan Chase & Co. raised its position in BRP by 562.8% during the second quarter. JPMorgan Chase & Co. now owns 382,323 shares of the company’s stock worth $13,632,000 after acquiring an additional 324,639 shares during the period. Institutional investors own 27.70% of the company’s stock.
Several research firms recently issued reports on DOOO. ValuEngine upgraded shares of BRP from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Desjardins set a $66.00 target price on shares of BRP and gave the company a “buy” rating in a research note on Friday, August 30th. Zacks Investment Research upgraded shares of BRP from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, July 30th. Finally, TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.69.
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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