BRP (NASDAQ:DOOO) Sets New 12-Month Low – What’s Next?

BRP Inc. (NASDAQ:DOOO)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $40.82 and last traded at $40.81, with a volume of 1499 shares changing hands. The stock had previously closed at $41.49.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered BRP from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

BRP Price Performance

The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 22.71 and a beta of 2.02. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The company has a 50-day simple moving average of $50.04 and a two-hundred day simple moving average of $55.84.

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

BRP Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.1485 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, December 31st. BRP’s dividend payout ratio (DPR) is presently 30.85%.

Institutional Investors Weigh In On BRP

Hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of BRP by 17.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock valued at $24,159,000 after purchasing an additional 61,502 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $12,978,000 after buying an additional 15,892 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of BRP by 154.5% in the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after acquiring an additional 70,819 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of BRP by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after acquiring an additional 150,039 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in BRP by 706.1% during the third quarter. Intech Investment Management LLC now owns 26,318 shares of the company’s stock worth $1,568,000 after acquiring an additional 23,053 shares during the period.

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.