BRP (NASDAQ:DOOO) Shares Down 5.7% – Here’s What Happened

BRP Inc. (NASDAQ:DOOOGet Free Report)’s share price fell 5.7% during trading on Tuesday . The company traded as low as $47.92 and last traded at $47.92. 51,146 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 126,581 shares. The stock had previously closed at $50.84.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DOOO. Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Scotiabank lowered BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. UBS Group dropped their price objective on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $97.00.

View Our Latest Stock Report on BRP

BRP Stock Up 1.7 %

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 business has a fifty day simple moving average of $54.08 and a two-hundred day simple moving average of $62.01. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 20.07 and a beta of 2.07.

BRP (NASDAQ:DOOOGet Free Report) last released 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. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. Equities analysts expect that BRP Inc. will post 2.27 EPS 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 $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, September 27th. BRP’s payout ratio is currently 25.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new position in BRP during the 1st quarter worth $2,422,000. Sei Investments Co. lifted its stake in shares of BRP by 31.3% in the 2nd quarter. Sei Investments Co. now owns 105,163 shares of the company’s stock valued at $6,734,000 after purchasing an additional 25,041 shares during the period. Achmea Investment Management B.V. lifted its stake in shares of BRP by 63.6% in the 2nd quarter. Achmea Investment Management B.V. now owns 46,993 shares of the company’s stock valued at $3,011,000 after purchasing an additional 18,269 shares during the period. CIBC Asset Management Inc lifted its stake in shares of BRP by 154.5% in the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after purchasing an additional 70,819 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of BRP by 13.5% in the 2nd quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock valued at $30,455,000 after purchasing an additional 56,954 shares during the period.

BRP Company Profile

(Get Free Report)

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.

Further Reading

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