BRP (NASDAQ:DOOO) Stock Price Down 6.2% – What’s Next?

BRP Inc. (NASDAQ:DOOO) was down 6.2% during trading on Tuesday . The company traded as low as $34.33 and last traded at $34.37. Approximately 89,975 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 152,069 shares. The stock had previously closed at $36.64.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Securities reaffirmed a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Citigroup upgraded shares of BRP from a “sell” rating to a “neutral” rating and upped their target price for the stock from $27.00 to $37.00 in a research note on Friday, April 4th. Raymond James reissued a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 price objective (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BRP currently has an average rating of “Hold” and an average target price of $61.25.

BRP Stock Down 6.8 %

The company has a fifty day moving average price of $38.80 and a 200-day moving average price of $47.18. The stock has a market capitalization of $2.49 billion, a P/E ratio of 18.17 and a beta of 1.71. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, research analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a $0.1508 dividend. This is a positive change from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, April 4th. BRP’s dividend payout ratio is -29.21%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DOOO. FIL Ltd lifted its stake in shares of BRP by 176.2% during the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock worth $40,337,000 after acquiring an additional 505,228 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after purchasing an additional 16,379 shares during the period. Alberta Investment Management Corp increased its stake in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock worth $2,408,000 after buying an additional 14,500 shares during the period. Van ECK Associates Corp boosted its position in BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock valued at $3,875,000 after buying an additional 66,627 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after acquiring an additional 15,892 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.