BRP (NASDAQ:DOOO) Trading Down 5.5% – Time to Sell?

BRP Inc. (NASDAQ:DOOO)’s stock price traded down 5.5% during mid-day trading on Thursday . The company traded as low as $36.39 and last traded at $36.13. 31,865 shares were traded during trading, a decline of 78% from the average session volume of 144,199 shares. The stock had previously closed at $38.23.

Wall Street Analysts Forecast Growth

Separately, Citigroup reissued a “sell” rating and set a $27.00 price target (down previously from $29.00) on shares of BRP in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, BRP presently has a consensus rating of “Hold” and a consensus target price of $87.40.

BRP Stock Down 4.1 %

The firm has a market cap of $2.48 billion, a PE ratio of 18.09 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 firm has a 50 day moving average price of $42.54 and a 200-day moving average price of $49.56.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. Research analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.1508 dividend. This represents a $0.60 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, April 4th. This is a positive change from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio is 30.85%.

Institutional Trading of BRP

A number of institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc raised its position in shares of BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock worth $7,270,000 after acquiring an additional 16,379 shares in the last quarter. Alberta Investment Management Corp raised its holdings in BRP by 44.2% during the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock worth $2,408,000 after purchasing an additional 14,500 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after buying an additional 66,627 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $12,978,000 after buying an additional 15,892 shares during the last quarter. Finally, Vestcor Inc boosted its holdings in shares of BRP by 285.9% in the 4th quarter. Vestcor Inc now owns 13,090 shares of the company’s stock valued at $666,000 after buying an additional 9,698 shares in 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.