BRP (NASDAQ:DOOO) Hits New 12-Month Low – Time to Sell?

BRP Inc. (NASDAQ:DOOO)’s share price hit a new 52-week low on Friday . The company traded as low as $40.55 and last traded at $40.88, with a volume of 110240 shares traded. The stock had previously closed at $41.99.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded BRP from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.00.

BRP Stock Performance

The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The company has a 50 day moving average price of $48.91 and a 200 day moving average price of $54.60. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 21.77 and a beta of 2.02.

BRP (NASDAQ:DOOO) last released its quarterly earnings results on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.1485 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.45%. BRP’s dividend payout ratio (DPR) is currently 30.85%.

Hedge Funds Weigh In On BRP

A number of hedge funds have recently added to or reduced their stakes in DOOO. Creative Planning bought a new position in shares of BRP during the 3rd quarter worth approximately $227,000. US Bancorp DE lifted 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 worth $25,000 after buying an additional 322 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of BRP by 27.5% during the 3rd quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company’s stock worth $13,233,000 after buying an additional 47,800 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of BRP by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 9,520 shares of the company’s stock worth $567,000 after buying an additional 1,490 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in shares of BRP by 2.1% during the 3rd quarter. Fiera Capital Corp now owns 112,768 shares of the company’s stock worth $6,720,000 after buying an additional 2,340 shares in the last quarter.

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.