BRP (NASDAQ:DOOO) Shares Up 2.6% – Still a Buy?

BRP Inc. (NASDAQ:DOOO) shares shot up 2.6% during mid-day trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Citigroup restated a “sell” rating and issued a $27.00 price objective (down previously from $29.00) on shares of BRP in a research report on Friday, March 28th. Finally, TD Securities restated a “hold” rating on shares of BRP in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.00.

BRP Stock Up 2.3 %

The company has a market cap of $2.67 billion, a PE ratio of 19.45 and a beta of 2.03. The business has a fifty day simple moving average of $41.48 and a two-hundred day simple moving average of $48.94. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. As a group, equities research analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a $0.1508 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.65%. This is an increase from BRP’s previous quarterly dividend of $0.15. BRP’s payout ratio is currently -29.21%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in shares of BRP by 259.3% during the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock worth $35,000 after buying an additional 490 shares during the period. Signaturefd LLC grew its position in BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after acquiring an additional 903 shares in the last quarter. Dnca Finance increased its stake in BRP by 36.1% during the fourth quarter. Dnca Finance now owns 1,390 shares of the company’s stock worth $71,000 after purchasing an additional 369 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in BRP during the fourth quarter worth about $77,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of BRP during the fourth quarter worth about $148,000.

About BRP

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.