BRP (NASDAQ:DOOO) Reaches New 12-Month Low – Here’s What Happened

Shares of BRP Inc. (NASDAQ:DOOO) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $36.63 and last traded at $37.56, with a volume of 201349 shares changing hands. The stock had previously closed at $38.10.

Analysts Set New Price Targets

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

BRP Price Performance

The company has a 50 day moving average of $47.54 and a two-hundred day moving average of $53.37. The firm has a market cap of $2.74 billion, a P/E ratio of 19.98 and a beta of 2.03. 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 released its quarterly earnings results on Friday, December 6th. The company reported $0.85 earnings per share for the quarter, beating 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%. Sell-side analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.1485 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, December 31st. BRP’s dividend payout ratio (DPR) is presently 30.85%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its stake in shares of BRP by 71.7% in the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after acquiring an additional 684,651 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of BRP by 401.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock valued at $765,000 after acquiring an additional 12,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock valued at $1,823,000 after acquiring an additional 293 shares in the last quarter. Turtle Creek Asset Management Inc. grew its holdings in BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after buying an additional 668,607 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in BRP by 5.4% in the 4th quarter. Systematic Financial Management LP now owns 202,425 shares of the company’s stock valued at $10,297,000 after buying an additional 10,341 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.