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

BRP Inc. (NASDAQ:DOOO)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $40.82 and last traded at $40.81, with a volume of 1499 shares changing hands. The stock had previously closed at $41.49.

Analyst Ratings Changes

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

BRP Stock Performance

The firm has a market capitalization of $3.00 billion, a P/E ratio of 21.87 and a beta of 2.02. The company has a 50-day simple moving average of $50.29 and a two-hundred day simple moving average of $56.04. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

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%. As a group, equities analysts forecast that BRP Inc. will post 3.15 EPS for the current year.

BRP Cuts Dividend

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

Hedge Funds Weigh In On BRP

Several institutional investors and hedge funds have recently modified their holdings of DOOO. Creative Planning bought a new stake in BRP during the 3rd quarter valued at about $227,000. Spartan Fund Management Inc. purchased a new stake in shares of BRP during the third quarter valued at approximately $72,000. US Bancorp DE increased its position in shares of BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after acquiring an additional 322 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in BRP by 27.5% in the 3rd quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company’s stock worth $13,233,000 after acquiring an additional 47,800 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in BRP by 18.6% in the 3rd quarter. Van ECK Associates Corp now owns 9,520 shares of the company’s stock worth $567,000 after acquiring an additional 1,490 shares during the last quarter.

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.