BRP (NASDAQ:DOOO) Sets New 1-Year Low – Here’s What Happened

Shares of BRP Inc. (NASDAQ:DOOO) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $40.82 and last traded at $40.81, with a volume of 1499 shares traded. The stock had previously closed at $41.49.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of BRP from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BRP presently has a consensus rating of “Hold” and an average target price of $97.00.

BRP Stock Down 0.9 %

The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The stock has a market cap of $3.00 billion, a P/E ratio of 21.87 and a beta of 2.02. The company’s 50 day moving average price is $50.29 and its two-hundred day moving average price is $56.04.

BRP (NASDAQ:DOOO) last announced its earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. Equities analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.1485 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.44%. BRP’s dividend payout ratio is currently 30.85%.

Institutional Trading of BRP

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of BRP by 13.9% during the 3rd 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 in the last quarter. Vanguard Group Inc. raised its stake in BRP by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company’s stock worth $62,355,000 after acquiring an additional 19,874 shares during the period. Franklin Resources Inc. lifted its holdings in 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 purchasing an additional 214,626 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BRP by 17.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after purchasing an additional 61,502 shares during the period. Finally, Norges Bank purchased a new stake in shares of BRP in the fourth quarter worth $15,259,000.

BRP Company Profile

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.