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

BRP Inc. (NASDAQ:DOOO)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $31.94 and last traded at $32.43, with a volume of 6483 shares changing hands. The stock had previously closed at $32.44.

Analyst Ratings Changes

Several equities analysts have issued reports on DOOO shares. Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Citigroup upgraded BRP from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 price target (down from $48.00) on shares of BRP in a research note on Friday, April 4th. Raymond James reiterated a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. Finally, TD Securities restated a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Ten research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.25.

BRP Stock Down 1.4 %

The firm’s fifty day simple moving average is $38.04 and its 200-day simple moving average is $46.47. The company has a market cap of $2.34 billion, a PE ratio of 17.01 and a beta of 1.71. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last announced its earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, equities research analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were given a dividend of $0.1508 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio (DPR) is currently -29.21%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Addenda Capital Inc. raised its position in shares of BRP by 10.3% in the first quarter. Addenda Capital Inc. now owns 14,699 shares of the company’s stock valued at $497,000 after buying an additional 1,368 shares during the last quarter. Mackenzie Financial Corp raised its holdings in BRP by 71.7% in 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 during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of BRP by 401.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock worth $765,000 after purchasing an additional 12,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of BRP by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock worth $1,823,000 after purchasing an additional 293 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. increased its stake in BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after purchasing an additional 668,607 shares during the last quarter.

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.