Update from BRP Group Inc. (BRP): A steady trajectory

BRP Group Inc. (NASDAQ: BRP) closed the day trading at $29.43 up 2.44% from the previous closing price of $28.73. In other words, the price has increased by $+0.70 from its previous closing price. On the day, 245085 shares were traded. BRP stock price reached its highest trading level at $30.00 during the session, while it also had its lowest trading level at $28.67.

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For a better understanding of BRP, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.20 and its Current Ratio is at 1.20. In the meantime, Its Debt-to-Equity ratio is 2.07 whereas as Long-Term Debt/Eq ratio is at 2.05.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, JP Morgan on October 03, 2022, Downgraded its rating to Neutral and sets its target price to $30 from $31 previously.

On April 18, 2022, UBS started tracking the stock assigning a Buy rating and target price of $30.

BofA Securities Upgraded its Neutral to Buy on March 14, 2022, while the target price for the stock was maintained at $31.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 21 when Cohen Seth Bala sold 3,463 shares for $28.25 per share. The transaction valued at 97,830 led to the insider holds 9,282 shares of the business.

Baldwin Lowry bought 172,000 shares of BRP for $4,965,640 on Sep 20. The Chairman now owns 172,000 shares after completing the transaction at $28.87 per share. On Sep 20, another insider, Baldwin Lowry, who serves as the Chairman of the company, sold 172,000 shares for $28.87 each. As a result, the insider received 4,965,640 and left with 171,799 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 3.68 while its Price-to-Book (P/B) ratio in mrq is 2.59.

Stock Price History:

Over the past 52 weeks, BRP has reached a high of $38.99, while it has fallen to a 52-week low of $17.08. The 50-Day Moving Average of the stock is 27.69, while the 200-Day Moving Average is calculated to be 26.82.

Shares Statistics:

Over the past 3-months, BRP traded about 332.75K shares per day on average, while over the past 10 days, BRP traded about 354.67k shares per day. A total of 57.28M shares are outstanding, with a floating share count of 54.48M. Insiders hold about 0.20% of the company’s shares, while institutions hold 94.30% stake in the company. Shares short for BRP as of Oct 13, 2022 were 2.57M with a Short Ratio of 2.38M, compared to 2.5M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.27% and a Short% of Float of 4.35%.

Earnings Estimates

Current recommendations for the stock of the company come from 10 analysts. On average, analysts expect EPS of $0.17 for the current quarter, with a high estimate of $0.22 and a low estimate of $0.14, while EPS last year was $0.11. The consensus estimate for the next quarter is $0.15, with high estimates of $0.2 and low estimates of $0.1.

Analysts are recommending an EPS of between $1.1 and $0.98 for the fiscal current year, implying an average EPS of $1.04. EPS for the following year is $1.3, with 10 analysts recommending between $1.5 and $0.98.

Revenue Estimates

6 analysts predict $231.07M in revenue for the current quarter. It ranges from a high estimate of $238.18M to a low estimate of $227.5M. As of the current estimate, BRP Group Inc.’s year-ago sales were $127.81M, an estimated increase of 80.80% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $234.16M, an increase of 47.10% less than the figure of $80.80% in the same quarter last year. There is a high estimate of $249.35M for the next quarter, whereas the lowest estimate is $218.89M.

A total of 8 analysts have provided revenue estimates for BRP’s current fiscal year. The highest revenue estimate was $955.32M, while the lowest revenue estimate was $922.84M, resulting in an average revenue estimate of $939.08M. In the same quarter a year ago, actual revenue was $567.29M, up 65.50% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $1.16B in the next fiscal year. The high estimate is $1.23B and the low estimate is $1.11B. The average revenue growth estimate for next year is up 23.90% from the average revenue estimate for this year.