BRP (NASDAQ:DOOO) Sets New 12-Month Low – Here’s Why

Shares of BRP Inc. (NASDAQ:DOOO) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $41.32 and last traded at $42.34, with a volume of 6420 shares traded. The stock had previously closed at $47.81.

Analysts Set New Price Targets

Separately, Citigroup cut BRP from a “buy” rating to a “neutral” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $97.00.

BRP Stock Down 9.3 %

The company has a 50 day simple moving average of $51.08 and a two-hundred day simple moving average of $57.32. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $3.17 billion, a P/E ratio of 23.08 and a beta of 2.02.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Friday, December 6th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, equities analysts predict that BRP Inc. will post 3.15 EPS for the current year.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.1485 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 annualized dividend and a dividend yield of 1.37%. BRP’s dividend payout ratio (DPR) is presently 30.85%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DOOO. Franklin Resources Inc. boosted its position in shares of BRP by 41.5% during the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock valued at $43,461,000 after buying an additional 214,626 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of BRP by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after buying an additional 150,039 shares during the period. CIBC Asset Management Inc boosted its position in shares of BRP by 154.5% during the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after buying an additional 70,819 shares during the period. Van ECK Associates Corp boosted its position in shares of BRP by 699.9% during the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock valued at $3,875,000 after buying an additional 66,627 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock valued at $24,159,000 after buying an additional 61,502 shares during the period.

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.