BRP (NASDAQ:DOOO) Hits New 12-Month Low – Here’s Why

Shares of BRP Inc. (NASDAQ:DOOO) hit a new 52-week low on Friday . The company traded as low as $36.27 and last traded at $36.65, with a volume of 12068 shares. The stock had previously closed at $37.21.

Analyst Upgrades and Downgrades

Separately, Citigroup cut BRP from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $48.00 to $29.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.80.

BRP Price Performance

The firm has a market cap of $2.68 billion, a PE ratio of 19.49 and a beta of 2.03. 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 company has a 50 day moving average price of $44.18 and a 200 day moving average price of $50.43.

Institutional Trading of BRP

A number of institutional investors have recently bought and sold shares of DOOO. Capital World Investors raised its stake in shares of BRP by 101.2% during the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock worth $100,386,000 after buying an additional 991,392 shares during the last quarter. Mackenzie Financial Corp increased its holdings in BRP by 71.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after acquiring an additional 684,651 shares in the last quarter. Turtle Creek Asset Management Inc. raised its position in BRP by 29.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock worth $151,118,000 after acquiring an additional 668,607 shares during the last quarter. FIL Ltd raised its position in BRP by 176.2% during the fourth quarter. FIL Ltd now owns 792,000 shares of the company’s stock worth $40,337,000 after acquiring an additional 505,228 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of BRP in the fourth quarter valued at about $15,259,000.

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.