In the last trading session, 1.0 million shares of the BRP Group Inc. (NASDAQ:BRP) were traded, and its beta was 1.54. Most recently the company’s share price was $21.27, and it changed around -$1.11 or -4.96% from the last close, which brings the market valuation of the company to $2.46B. BRP currently trades at a discount to its 52-week high of $33.34, offering almost -56.75% off that amount. The share price’s 52-week low was $20.73, which indicates that the current value has risen by an impressive 2.54% since then. We note from BRP Group Inc.’s average daily trading volume that its 10-day average is 0.55 million shares, with the 3-month average coming to 357.63K.
BRP Group Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended BRP as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. BRP Group Inc. is expected to report earnings per share of $0.26 for the current quarter.
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BRP Group Inc. (NASDAQ:BRP) trade information
Instantly BRP has showed a red trend with a performance of -4.96% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 24.40 on Tuesday, 05/23/23 increased the stock’s daily price by 12.83%. The company’s shares are currently down -15.39% year-to-date, but still up 2.46% over the last five days. On the other hand, BRP Group Inc. (NASDAQ:BRP) is -14.61% up in the 30-day period. We can see from the shorts that 2.42 million shares have been sold at a short interest cover period of 8.16 day(s).
The consensus price target as assigned by Wall Street analysts is $33.00, which translates to bulls needing to increase their stock price by 35.55% from its current value. Analyst projections state that BRP is forecast to be at a low of $27.00 and a high of $38.00. In order for the stock price to hit the forecast high, the stock would need to plunge -78.66% from its current level, while the stock would need to crash -26.94% from its current level to reach the projected low.
BRP Group Inc. (BRP) estimates and forecasts
BRP Group Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -23.74 percent over the past six months and at a 14.56% annual growth rate that is well below the industry average of 22.50%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 13.00% in revenue this quarter, and will report an increase of 55.60% in the next quarter. The year-over-year growth rate is expected to be 23.30%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $288.49 million in revenue for the current quarter. 6 analysts expect BRP Group Inc. to make $304.96 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $232.46 million and $231.07 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 24.10%. Forecasts for the next quarter put sales growth at 32.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 29.01%. BRP Group Inc. earnings are expected to increase by -14.10% in 2023, but the outlook is positive 23.90% per year for the next five years.
BRP Group Inc.’s next quarterly earnings report is expected to be released on May 09.
BRP Group Inc. (NASDAQ:BRP)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 11.57% of BRP Group Inc. shares, and 92.34% of them are in the hands of institutional investors. The stock currently has a share float of 104.42%. BRP Group Inc. stock is held by 224 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.19% of the shares, which is about 5.86 million shares worth $149.14 million.
FMR, LLC, with 8.19% or 5.22 million shares worth $132.95 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Baron Small Cap Fund and Price (T.Rowe) Small-Cap Value Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 3.1 million shares worth $77.93 million, making up 5.00% of all outstanding shares. On the other hand, Price (T.Rowe) Small-Cap Value Fund held roughly 3.07 million shares worth around $77.1 million, which represents about 4.94% of the total shares outstanding.