BRP (NASDAQ:DOOO) Sees Unusually-High Trading Volume


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BRP Inc. (NASDAQ:DOOO) saw strong trading volume on Tuesday . 6,228 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 102,578 shares.The stock last traded at $87.64 and had previously closed at $89.51.

A number of equities research analysts have commented on the company. Canaccord Genuity lifted their target price on BRP from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, March 26th. National Bank Financial reaffirmed an “outperform” rating on shares of BRP in a research note on Tuesday, February 23rd. Zacks Investment Research raised BRP from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, March 30th. BMO Capital Markets lifted their price objective on BRP from $74.00 to $98.00 and gave the company a “market perform” rating in a research note on Friday, March 26th. Finally, Desjardins lifted their price objective on BRP from $107.00 to $131.00 and gave the company a “buy” rating in a research note on Monday, March 29th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $93.09.

The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 48.06 and a beta of 3.04. The company has a 50 day moving average of $77.93 and a 200 day moving average of $65.27.

BRP (NASDAQ:DOOO) last released its earnings results on Wednesday, March 24th. The company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.13. BRP had a negative return on equity of 67.06% and a net margin of 3.78%. As a group, sell-side analysts anticipate that BRP Inc. will post 3.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 19th. Stockholders of record on Monday, April 5th will be given a dividend of $0.1031 per share. This is a boost from BRP’s previous quarterly dividend of $0.08. This represents a $0.41 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Thursday, April 1st. BRP’s dividend payout ratio is currently 12.15%.

Several large investors have recently added to or reduced their stakes in DOOO. FMR LLC boosted its position in shares of BRP by 700.7% during the 1st quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after acquiring an additional 573,296 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of BRP by 116.7% during the 3rd quarter. Wells Fargo & Company MN now owns 35,451 shares of the company’s stock worth $1,873,000 after acquiring an additional 19,094 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of BRP during the 3rd quarter worth about $113,000. Great West Life Assurance Co. Can boosted its position in shares of BRP by 10.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,937 shares of the company’s stock worth $307,000 after acquiring an additional 549 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of BRP by 9.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 43,722 shares of the company’s stock worth $2,303,000 after acquiring an additional 3,700 shares in the last quarter. 30.52% of the stock is owned by institutional investors and hedge funds.

About BRP (NASDAQ:DOOO)

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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