The stock of BRP Group Inc. (NASDAQ:BRP) increased by $0.67 on Friday to finish at $24.28, up 2.84 percent. The last five days have seen an average of 427,420 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$0.86. The average number of shares traded over the last 20 days was 331,155, while the average volume over the last 50 days totaled 377,604.
BRP stock appreciated 0.66% since last month. On 08/10/23, the company’s shares reached a one-month low of $23.05. The stock touched a high of $33.34 on 01/13/23, after rallying from a low of $19.26 in 52 weeks. The price of BRP stock has declined by -3.42% or -$0.86 this year, reaching a new high 7 times. Still, the stock price is down -27.17% from the 52-week high.
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Insider Transactions
BRP stock investors should be aware that BRP Group Inc. (BRP) stock had its last reported insider trading activity 95 days ago on May 11. On May 11, General Counsel Cohen Seth Bala sold 2,000 shares at $22.47 each. This transaction resulted in the insider making $44,940. On Nov 29, Wiebeck Kristopher Aaron sold 15,000 shares at a price of US$29.34. After the transaction, the insider now owns 51,126 shares. Chief Strategy Officer Wiebeck Kristopher Aaron had earlier sold 10,000 shares on Nov 29 for $29.33 a share. The transaction was completed for $293,300.
Valuation Metrics
Beta for the stock is 1.58. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.58, the price-to-book (PB) ratio of 2.35.
Financial Health
For the three months ended June 29, BRP Group Inc.’s quick ratio was 1.00, while its current ratio was 1.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.13, and the total debt to equity ratio is 2.15. As far as profitability goes, gross margin for the trailing twelve months is 25.40% percent. BRP Group Inc.’s operating margin stood at -2.90% for the same period. Based on annual data, it had gross profit of -$31.1 million and revenue of $980.72 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BRP’s return on assets (ROA) during the last 12 months has been -1.20%. There was a -1.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -6.60%.
Earnings Surprise
According to BRP Group Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $297.19 million, while revenues rose by 26.7% to $330.45 million. It was predicted that BRP Group Inc.’s quarterly earnings would be $0.27, but it ended up being $0.27. EBITDA was $9.17 million for the quarter. At the end of BRP Group Inc.’s most recent quarter ended June 29, its total debt was $1.39 billion. Equity owned by shareholders amounts to $116.78 million.
Technical Picture
Here’s a quick look at BRP Group Inc.’s (BRP) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 44.81%, suggesting the stock is Neutral, with a 27.39% historical volatility rate.
The stochastic %K and %D were 20.41% and 17.58% respectively, while the average true range (ATR) was 0.95. Based on the 14-day stochastic reading of 32.54%, the RSI (14) reading is 47.66%. On the 9-day MACD Oscillator, the stock is at -0.48, and the 14-day reading is at -0.76.
Analyst Ratings
BRP Group Inc. (NASDAQ: BRP) was downgraded by William Blair to a a Mkt perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned BRP Group Inc. (BRP) an Overweight rating. BRP is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 4 others recommend it as a buy.
What is BRP’s price target for the next 12 months?
The current consensus forecast for the stock is between $27.00 and $41.00, with a median target price of $30.00. In analyzing these forecasts, the average price target given by analysts for BRP Group Inc. (BRP) is $31.86.
