BRP (NASDAQ:DOOO) Sets New 1-Year Low – What’s Next?

BRP Inc. (NASDAQ:DOOO)’s share price 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 trading hands. The stock had previously closed at $48.13.

Analyst Ratings Changes

A number of brokerages recently weighed in on DOOO. Cibc World Mkts downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Desjardins cut shares of BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Citigroup reduced their price objective on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, UBS Group reduced their price objective on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $97.00.

BRP Price Performance

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

BRP (NASDAQ:DOOO) last announced its quarterly earnings data 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 company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. As a group, research analysts predict that BRP Inc. will post 2.3 earnings per share for the current year.

BRP Announces Dividend

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

Institutional Trading of BRP

Hedge funds have recently modified their holdings of the business. US Bancorp DE increased its position in shares of BRP by 350.0% during the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in BRP by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Dnca Finance bought a new position in BRP in the 2nd quarter worth approximately $66,000. Spartan Fund Management Inc. bought a new position in shares of BRP during the 3rd quarter valued at approximately $72,000. Finally, DRW Securities LLC bought a new position in shares of BRP during the 3rd quarter valued at approximately $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.