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

BRP Inc. (NASDAQ:DOOO) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $47.36 and last traded at $47.72, with a volume of 17691 shares traded. The stock had previously closed at $48.13.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. UBS Group reduced their price target on BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $97.00.

BRP Trading Down 0.0 %

The business has a fifty day simple moving average of $56.07 and a 200 day simple moving average of $63.24. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 19.80 and a beta of 2.07. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32.

BRP (NASDAQ:DOOO) last issued its earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. BRP had a return on equity of 79.58% and a net margin of 2.78%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. As a group, equities analysts anticipate that BRP Inc. will post 2.3 EPS for the current year.

BRP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.152 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.27%. BRP’s payout ratio is currently 25.73%.

Hedge Funds Weigh In On BRP

Several hedge funds and other institutional investors have recently modified their holdings of DOOO. US Bancorp DE lifted its holdings in BRP by 350.0% in the third quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares during the period. UniSuper Management Pty Ltd raised its holdings in BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the period. Dnca Finance acquired a new stake in BRP during the 2nd quarter worth about $66,000. Spartan Fund Management Inc. acquired a new position in shares of BRP in the 3rd quarter valued at about $72,000. Finally, DRW Securities LLC acquired a new position in shares of BRP in the 3rd quarter valued at about $161,000.

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.