BRP (NASDAQ:DOOO) Trading Up 2.6% – Time to Buy?

BRP Inc. (NASDAQ:DOOO)’s share price shot up 2.6% during mid-day trading on Tuesday . The company traded as high as $34.27 and last traded at $34.69. 39,796 shares changed hands during trading, a decline of 72% from the average session volume of 144,296 shares. The stock had previously closed at $33.81.

Analysts Set New Price Targets

Separately, Citigroup reaffirmed a “sell” rating and set a $27.00 price target (down from $29.00) on shares of BRP in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $87.40.

BRP Stock Up 4.4 %

The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 18.77 and a beta of 2.03. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The firm has a fifty day moving average price of $42.17 and a 200-day moving average price of $49.21.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, sell-side analysts forecast that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.1508 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from BRP’s previous quarterly dividend of $0.15. BRP’s payout ratio is -29.21%.

Hedge Funds Weigh In On BRP

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in BRP by 0.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock worth $1,823,000 after purchasing an additional 293 shares in the last quarter. Quantbot Technologies LP increased its position in shares of BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock worth $228,000 after acquiring an additional 337 shares in the last quarter. Dnca Finance raised its stake in shares of BRP by 36.1% in the 4th quarter. Dnca Finance now owns 1,390 shares of the company’s stock valued at $71,000 after acquiring an additional 369 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of BRP by 259.3% during the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock valued at $35,000 after acquiring an additional 490 shares in the last quarter. Finally, Signaturefd LLC boosted its position in BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after purchasing an additional 903 shares during the period.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.