BRP (NASDAQ:DOOO) Sets New 52-Week Low – Time to Sell?

BRP Inc. (NASDAQ:DOOO)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $49.00 and last traded at $49.01, with a volume of 67281 shares trading hands. The stock had previously closed at $50.31.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DOOO shares. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup dropped their price objective on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Finally, National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Seven investment 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $97.00.

BRP Trading Down 2.6 %

The firm has a fifty day moving average of $58.66 and a two-hundred day moving average of $64.06. The company has a market cap of $3.58 billion, a PE ratio of 20.32 and a beta of 2.07. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99.

BRP (NASDAQ:DOOO) last posted its earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. As a group, sell-side analysts predict that BRP Inc. will post 2.3 EPS for the current year.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, September 27th. BRP’s payout ratio is presently 25.73%.

Institutional Trading of BRP

Large investors have recently modified their holdings of the business. US Bancorp DE lifted its position in BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after buying an additional 322 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in BRP by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Dnca Finance bought a new stake in BRP in the 2nd quarter worth approximately $66,000. Spartan Fund Management Inc. bought a new stake in BRP in the third quarter valued at approximately $72,000. Finally, Lake Street Advisors Group LLC bought a new stake in BRP in the second quarter valued at approximately $201,000.

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.