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

BRP Inc. (NASDAQ:DOOO)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $40.82 and last traded at $40.81, with a volume of 1499 shares. The stock had previously closed at $41.49.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut BRP from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BRP presently has an average rating of “Hold” and an average price target of $97.00.

BRP Stock Up 3.1 %

The firm has a 50 day simple moving average of $50.04 and a two-hundred day simple moving average of $55.84. The stock has a market capitalization of $3.12 billion, a P/E ratio of 22.71 and a beta of 2.02. 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 posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, equities research analysts expect that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.1485 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.39%. BRP’s payout ratio is currently 30.85%.

Hedge Funds Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in DOOO. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after buying an additional 61,502 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after acquiring an additional 15,892 shares in the last quarter. CIBC Asset Management Inc grew its position in BRP by 154.5% during the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock worth $7,347,000 after acquiring an additional 70,819 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after purchasing an additional 150,039 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in BRP by 706.1% in the third quarter. Intech Investment Management LLC now owns 26,318 shares of the company’s stock valued at $1,568,000 after purchasing an additional 23,053 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.