BRP (NASDAQ:DOOO) Trading Down 4.6% – Should You Sell?

Shares of BRP Inc. (NASDAQ:DOOO) traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $53.18 and last traded at $53.18. 71,988 shares changed hands during trading, a decline of 41% from the average session volume of 122,881 shares. The stock had previously closed at $55.75.

Analyst Ratings Changes

DOOO has been the topic of several recent research reports. Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Desjardins cut shares of BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Citigroup lowered their price objective on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 9th. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Finally, National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, BRP currently has an average rating of “Hold” and an average price target of $97.00.

BRP Trading Down 7.4 %

The firm’s 50 day moving average is $63.08 and its 200 day moving average is $65.74. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. The company has a market capitalization of $3.83 billion, a PE ratio of 9.49 and a beta of 2.06.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. BRP had a net margin of 2.78% and a return on equity of 79.58%. As a group, equities analysts predict that BRP Inc. will post 2.21 EPS for the current year.

BRP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a $0.152 dividend. This represents a $0.61 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, September 27th. BRP’s dividend payout ratio (DPR) is currently 11.21%.

Institutional Investors Weigh In On BRP

Large investors have recently made changes to their positions in the business. Addenda Capital Inc. lifted its stake in BRP by 5.3% in the first quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock worth $710,000 after acquiring an additional 528 shares during the period. Trivant Custom Portfolio Group LLC bought a new stake in shares of BRP during the first quarter valued at approximately $50,000. BNP Paribas Financial Markets raised its holdings in BRP by 753.8% in the first quarter. BNP Paribas Financial Markets now owns 6,002 shares of the company’s stock worth $403,000 after purchasing an additional 5,299 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in BRP during the first quarter valued at $3,178,000. Finally, Sei Investments Co. bought a new stake in shares of BRP during the 1st quarter valued at $5,376,000.

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.