BRP (NASDAQ:DOOO) Reaches New 52-Week Low – Here’s Why

BRP Inc. (NASDAQ:DOOO) hit a new 52-week low on Thursday . The company traded as low as $49.61 and last traded at $49.96, with a volume of 72619 shares. The stock had previously closed at $51.27.

Analyst Ratings Changes

Several analysts have recently commented on DOOO shares. National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” 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. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Finally, Citigroup cut 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. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $97.00.

BRP Trading Up 1.1 %

The firm’s 50-day simple moving average is $59.89 and its 200-day simple moving average is $64.50. The firm has a market capitalization of $3.64 billion, a P/E ratio of 20.68 and a beta of 2.06. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The business 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%. Analysts anticipate that BRP Inc. will post 2.3 EPS for the current year.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.152 per share. The ex-dividend date was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.22%. BRP’s dividend payout ratio is currently 25.73%.

Institutional Trading of BRP

Several institutional investors and hedge funds have recently bought and sold shares of DOOO. Sei Investments Co. purchased a new stake in BRP during the 1st quarter valued at about $5,376,000. Shell Asset Management Co. raised its holdings in BRP by 160.2% in the 1st quarter. Shell Asset Management Co. now owns 17,795 shares of the company’s stock worth $1,196,000 after purchasing an additional 10,957 shares during the period. 1832 Asset Management L.P. raised its stake in shares of BRP by 23.9% in the first quarter. 1832 Asset Management L.P. now owns 122,549 shares of the company’s stock worth $8,223,000 after buying an additional 23,678 shares during the period. National Bank of Canada FI increased its stake in shares of BRP by 17.6% in the first quarter. National Bank of Canada FI now owns 422,358 shares of the company’s stock worth $29,664,000 after purchasing an additional 63,060 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in BRP during the first quarter valued at about $2,422,000.

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.