BRP Inc (NASDAQ:DOOO) Short Interest Update

BRP Inc (NASDAQ:DOOO) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 685,300 shares, an increase of 28.3% from the June 30th total of 534,100 shares. Based on an average daily trading volume, of 147,900 shares, the short-interest ratio is currently 4.6 days. Currently, 1.7% of the company’s stock are short sold.

A number of research firms have weighed in on DOOO. Zacks Investment Research raised shares of BRP from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, June 3rd. Stifel Nicolaus assumed coverage on shares of BRP in a research report on Wednesday, June 17th. They set a “buy” rating on the stock. UBS Group increased their price target on shares of BRP from $20.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. BMO Capital Markets increased their price target on shares of BRP from $29.00 to $45.00 and gave the stock a “market perform” rating in a research report on Friday, May 29th. Finally, Wolfe Research assumed coverage on shares of BRP in a research report on Friday, April 17th. They set an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. BRP has an average rating of “Hold” and an average price target of $48.56.

DOOO traded down $0.98 on Friday, hitting $44.78. 132,832 shares of the company’s stock were exchanged, compared to its average volume of 89,296. The firm has a market cap of $3.91 billion, a PE ratio of 48.15 and a beta of 3.59. BRP has a twelve month low of $12.97 and a twelve month high of $56.89. The stock has a fifty day moving average of $41.42 and a two-hundred day moving average of $36.22.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. The firm had revenue of $916.97 million for the quarter, compared to analyst estimates of $798.60 million. BRP had a net margin of 2.09% and a negative return on equity of 51.98%. On average, equities analysts expect that BRP will post 1.3 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of DOOO. Cidel Asset Management Inc. purchased a new position in shares of BRP during the 1st quarter valued at $166,000. Jane Street Group LLC acquired a new position in shares of BRP during the first quarter valued at about $181,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of BRP by 32.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,502 shares of the company’s stock valued at $193,000 after buying an additional 1,109 shares during the last quarter. CLARET ASSET MANAGEMENT Corp increased its stake in BRP by 8.3% in the first quarter. CLARET ASSET MANAGEMENT Corp now owns 12,120 shares of the company’s stock valued at $198,000 after acquiring an additional 924 shares during the period. Finally, AXA bought a new stake in BRP during the first quarter worth about $269,000. 25.77% of the stock is currently owned by institutional investors.

About BRP

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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