BRP (NASDAQ:DOOO) Sets New 52-Week Low – Should You Sell?

BRP Inc. (NASDAQ:DOOO) shares reached a new 52-week low on Wednesday . The stock traded as low as $47.18 and last traded at $47.56, with a volume of 18801 shares trading hands. The stock had previously closed at $48.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Cibc World Mkts downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, UBS Group cut their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Seven investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $97.00.

BRP Stock Down 1.9 %

The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The firm’s fifty day moving average is $55.37 and its 200-day moving average is $62.75. The stock has a market capitalization of $3.49 billion, a PE ratio of 20.19 and a beta of 2.07.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. On average, equities research analysts predict that BRP Inc. will post 2.3 earnings per share for the current year.

BRP Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 13.9% in 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in BRP by 61.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock worth $68,850,000 after purchasing an additional 408,692 shares during the last quarter. American Century Companies Inc. grew its stake in BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after buying an additional 335,715 shares during the last quarter. National Bank of Canada FI increased its stake in shares of BRP by 13.5% in the second quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock worth $30,455,000 after purchasing an additional 56,954 shares during the period. Finally, QV Investors Inc. acquired a new stake in shares of BRP in the second quarter worth $28,142,000.

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.