BRP (NASDAQ:DOOO) Reaches New 1-Year Low – Here’s What Happened

BRP Inc. (NASDAQ:DOOO) reached 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. The stock had previously closed at $41.99.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut BRP from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.00.

BRP Stock Performance

The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 21.77 and a beta of 2.02. The company has a 50-day moving average of $49.13 and a 200-day moving average of $54.88.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, equities research analysts forecast that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a $0.1485 dividend. This represents a $0.59 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, December 31st. BRP’s dividend payout ratio is presently 30.85%.

Institutional Investors Weigh In On BRP

Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in BRP by 350.0% in the third quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after buying an additional 322 shares during the period. Quadrant Capital Group LLC increased its position in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock worth $35,000 after buying an additional 490 shares during the period. Signaturefd LLC increased its position in BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after buying an additional 903 shares during the period. Dnca Finance increased its position in BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company’s stock worth $71,000 after buying an additional 369 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in BRP in the fourth quarter worth $77,000.

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.