BRP (NASDAQ:DOOO) Trading Down 5.7% – What’s Next?

BRP Inc. (NASDAQ:DOOO)’s share price fell 5.7% on Tuesday . The company traded as low as $47.92 and last traded at $47.92. 51,146 shares traded hands during trading, a decline of 60% from the average session volume of 126,581 shares. The stock had previously closed at $50.84.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DOOO shares. Scotiabank downgraded shares of BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Citigroup reduced their target price on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Finally, Desjardins downgraded shares of BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BRP has a consensus rating of “Hold” and an average price target of $97.00.

BRP Stock Performance

The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. The company has a 50 day simple moving average of $54.35 and a 200-day simple moving average of $62.17. The firm has a market cap of $3.49 billion, a PE ratio of 19.61 and a beta of 2.07.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. BRP had a net margin of 2.78% and a return on equity of 79.58%. As a group, equities research analysts anticipate that BRP Inc. will post 2.27 EPS for the current year.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, September 27th. BRP’s dividend payout ratio (DPR) is presently 25.73%.

Hedge Funds Weigh In On BRP

A number of large investors have recently bought and sold shares of DOOO. UniSuper Management Pty Ltd grew its holdings in shares of BRP by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. US Bancorp DE grew its holdings in BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares during the last quarter. Quantbot Technologies LP increased its position in shares of BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after acquiring an additional 337 shares during the period. Bank of New York Mellon Corp raised its stake in shares of BRP by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after acquiring an additional 520 shares during the last quarter. Finally, Dnca Finance purchased a new stake in shares of BRP during the second quarter worth about $66,000.

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.