BRP (NASDAQ:DOOO) Downgraded by Citigroup to “Neutral”

Citigroup downgraded shares of BRP (NASDAQ:DOOO) from a buy rating to a neutral rating in a research report report published on Monday morning, MarketBeat.com reports.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $43.95 on Monday. The business’s 50-day simple moving average is $50.94 and its 200-day simple moving average is $57.13. BRP has a 52 week low of $41.10 and a 52 week high of $75.59. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 23.38 and a beta of 2.02.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.35. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, equities research analysts expect that BRP will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.1485 per share. This represents a $0.59 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. BRP’s payout ratio is presently 30.85%.

Institutional Trading of BRP

Several institutional investors have recently made changes to their positions in DOOO. Alberta Investment Management Corp raised its position in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after purchasing an additional 14,500 shares during the last quarter. CIBC Asset Management Inc lifted its position in BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after purchasing an additional 16,379 shares during the period. Van ECK Associates Corp grew 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 period. Addenda Capital Inc. grew its position in shares of BRP by 10.5% during the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock worth $678,000 after buying an additional 1,265 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of BRP by 41.5% during the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after buying an additional 214,626 shares during the last quarter.

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.