BRP (NASDAQ:DOOO) Cut to Neutral at Citigroup

Citigroup cut shares of BRP (NASDAQ:DOOO) from a buy rating to a neutral rating in a research note issued to investors on Monday, Marketbeat.com reports.

BRP Trading Up 2.8 %

NASDAQ DOOO opened at $45.49 on Monday. 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 stock’s 50-day simple moving average is $50.82 and its two-hundred day simple moving average is $56.88. BRP has a twelve month low of $41.10 and a twelve month high of $75.59. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 24.20 and a beta of 2.02.

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

BRP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.1485 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.31%. BRP’s dividend payout ratio (DPR) is 30.85%.

Hedge Funds Weigh In On BRP

A number of large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 buying an additional 61,502 shares during the period. Geode Capital Management LLC lifted its position in BRP by 8.3% in the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after purchasing an additional 15,892 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of BRP by 154.5% in the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock worth $7,347,000 after buying an additional 70,819 shares during the period. The Manufacturers Life Insurance Company raised its holdings in 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 during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of BRP by 706.1% during the third quarter. Intech Investment Management LLC now owns 26,318 shares of the company’s stock valued at $1,568,000 after acquiring an additional 23,053 shares during the last quarter.

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.