BRP (NASDAQ:DOOO) Reaches New 12-Month Low – Here’s What Happened

BRP Inc. (NASDAQ:DOOO)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $35.37 and last traded at $35.46, with a volume of 285833 shares changing hands. The stock had previously closed at $38.23.

Analyst Ratings Changes

Separately, Citigroup cut BRP from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $48.00 to $29.00 in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.80.

BRP Stock Performance

The company has a market cap of $2.59 billion, a P/E ratio of 18.86 and a beta of 2.03. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The business has a fifty day simple moving average of $42.90 and a two-hundred day simple moving average of $49.73.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, sell-side analysts anticipate that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.1508 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.70%. This is a positive change from BRP’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, April 4th. BRP’s dividend payout ratio is 30.85%.

Hedge Funds Weigh In On BRP

Institutional investors and hedge funds have recently bought and sold shares of the stock. DRW Securities LLC bought a new position in shares of BRP in the third quarter worth about $161,000. The Manufacturers Life Insurance Company raised its stake in BRP by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after acquiring an additional 150,039 shares during the period. Quantbot Technologies LP lifted its holdings in BRP by 9.7% during the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after purchasing an additional 337 shares in the last quarter. De Lisle Partners LLP boosted its position in shares of BRP by 10.8% in the third quarter. De Lisle Partners LLP now owns 27,605 shares of the company’s stock worth $1,643,000 after purchasing an additional 2,697 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of BRP by 115.1% in the third quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company’s stock worth $1,124,000 after purchasing an additional 10,106 shares in 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.