BRP (NASDAQ:DOO) Shares Up 5.6% on Strong Earnings

Shares of BRP Inc. (NASDAQ:DOO) were up 5.6% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $69.33 and last traded at $68.6150. Approximately 336,239 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 195,543 shares. The stock had previously closed at $65.00.

The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.18. BRP had a return on equity of 67.30% and a net margin of 0.45%.The company’s revenue for the quarter was up 16.0% compared to the same quarter last year.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Thursday, March 26th will be paid a $0.07 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.4%. BRP’s dividend payout ratio is presently 170.27%.

Analysts Set New Price Targets

Several research firms recently commented on DOO. Weiss Ratings reissued a “hold (c-)” rating on shares of BRP in a research note on Monday. Wells Fargo & Company assumed coverage on shares of BRP in a research report on Wednesday, March 11th. They set an “overweight” rating on the stock. Finally, UBS Group upped their price target on shares of BRP from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, BRP currently has a consensus rating of “Hold” and an average price target of $75.00.

Hedge Funds Weigh In On BRP

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOO. Quarry LP purchased a new position in shares of BRP during the 4th quarter worth approximately $30,000. Signaturefd LLC purchased a new stake in shares of BRP in the fourth quarter valued at approximately $43,000. Quadrant Capital Group LLC purchased a new stake in shares of BRP in the fourth quarter valued at approximately $89,000. PNC Financial Services Group Inc. purchased a new position in BRP in the fourth quarter worth $142,000. Finally, Intact Investment Management Inc. purchased a new position in BRP in the fourth quarter worth $156,000.

BRP Stock Up 5.7%

The firm has a market capitalization of $5.04 billion, a P/E ratio of 185.24 and a beta of 1.22. The stock’s fifty day simple moving average is $73.90. The company has a current ratio of 1.23, a quick ratio of 0.49 and a debt-to-equity ratio of 4.31.

BRP Company Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.