BRP (NASDAQ:DOOO) Reaches New 52-Week Low – Here’s Why

BRP Inc. (NASDAQ:DOOO) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $56.06 and last traded at $56.06, with a volume of 24723 shares changing hands. The stock had previously closed at $57.50.

Analysts Set New Price Targets

A number of research analysts have commented on DOOO shares. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Citigroup decreased their target price on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 9th. Desjardins cut shares of BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.00.

BRP Stock Down 3.0 %

The firm’s 50-day simple moving average is $63.28 and its 200 day simple moving average is $65.85. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. The company has a market capitalization of $4.13 billion, a PE ratio of 10.40 and a beta of 2.06.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.23. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. As a group, equities research analysts forecast that BRP Inc. will post 2.21 earnings per share for the current year.

BRP Dividend Announcement

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 annualized dividend and a dividend yield of 1.09%. BRP’s dividend payout ratio is presently 11.21%.

Institutional Investors Weigh In On BRP

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UniSuper Management Pty Ltd raised its holdings in shares of BRP by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in BRP by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after purchasing an additional 520 shares in the last quarter. Addenda Capital Inc. boosted its stake in shares of BRP by 5.3% during the 1st quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock worth $710,000 after purchasing an additional 528 shares during the last quarter. Trivant Custom Portfolio Group LLC purchased a new stake in shares of BRP during the first quarter worth about $50,000. Finally, Dnca Finance acquired a new position in shares of BRP in the second quarter valued at approximately $66,000.

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.