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

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

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of BRP from a “buy” rating to a “neutral” rating in a research note on Monday. 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, the company has a consensus rating of “Hold” and an average price target of $97.00.

BRP Trading Down 9.3 %

The stock’s fifty day moving average price is $51.08 and its 200 day moving average price is $57.32. 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 $3.17 billion, a P/E ratio of 23.08 and a beta of 2.02.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 earnings per share (EPS) 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%. Equities research analysts expect that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a $0.1485 dividend. This represents a $0.59 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Tuesday, December 31st. BRP’s dividend payout ratio is presently 30.85%.

Hedge Funds Weigh In On BRP

A number of hedge funds have recently bought and sold shares of DOOO. US Bancorp DE raised its position in BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after buying an additional 322 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of BRP during the 3rd quarter valued at approximately $72,000. DRW Securities LLC bought a new position in shares of BRP during the 3rd quarter valued at approximately $161,000. Public Employees Retirement System of Ohio bought a new position in shares of BRP during the 3rd quarter valued at approximately $178,000. Finally, Creative Planning bought a new position in shares of BRP during the 3rd quarter valued at approximately $227,000.

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.