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

BRP Inc. (NASDAQ:DOOO)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $40.13 and last traded at $40.40, with a volume of 97514 shares. The stock had previously closed at $40.94.

Analysts Set New Price Targets

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

BRP Stock Performance

The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The company has a market cap of $2.89 billion, a P/E ratio of 21.09 and a beta of 2.02. The stock’s fifty day moving average price is $48.06 and its two-hundred day moving average price is $53.96.

BRP (NASDAQ:DOOO) last issued its earnings results 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%. As a group, equities analysts predict that BRP Inc. will post 3.15 earnings per share 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 paid a dividend of $0.1485 per share. This represents a $0.59 annualized dividend and a yield of 1.50%. The ex-dividend date was Tuesday, December 31st. BRP’s payout ratio is 30.85%.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock worth $7,270,000 after acquiring an additional 16,379 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $24,159,000 after purchasing an additional 61,502 shares during the last quarter. Alberta Investment Management Corp increased its stake in shares of BRP by 44.2% in the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after buying an additional 14,500 shares during the period. Van ECK Associates Corp raised its holdings in BRP by 699.9% in the 4th 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 last quarter. Finally, Geode Capital Management LLC boosted its position in BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after buying an additional 15,892 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.