BRP (NASDAQ:DOOO) Reaches New 1-Year Low – Here’s Why

Shares of BRP Inc. (NASDAQ:DOOO) hit a new 52-week low on Friday . The company traded as low as $35.37 and last traded at $35.46, with a volume of 285833 shares traded. The stock had previously closed at $38.23.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded BRP from a “neutral” rating to a “sell” rating and decreased their target price for the company from $48.00 to $29.00 in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $87.80.

BRP Stock Down 7.2 %

The company has a market capitalization of $2.59 billion, a P/E ratio of 18.86 and a beta of 2.03. The company has a 50-day moving average of $42.90 and a two-hundred day moving average of $49.73. 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 net margin of 2.29% and a return on equity of 61.20%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. On average, research analysts predict that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a $0.1508 dividend. This is a boost from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, April 4th. BRP’s payout ratio is currently 30.85%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its holdings in shares of BRP by 101.2% during the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock valued at $100,386,000 after acquiring an additional 991,392 shares in the last quarter. Mackenzie Financial Corp increased its stake 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 purchasing an additional 684,651 shares in the last quarter. Turtle Creek Asset Management Inc. raised its holdings 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 worth $151,118,000 after buying an additional 668,607 shares during the last quarter. FIL Ltd lifted its stake in shares of BRP by 176.2% in the fourth quarter. FIL Ltd now owns 792,000 shares of the company’s stock worth $40,337,000 after buying an additional 505,228 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of BRP during the fourth quarter valued at approximately $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.