BRP (NASDAQ:DOOO) Shares Up 4.3% – Time to Buy?

Shares of BRP Inc. (NASDAQ:DOOO) rose 4.3% during trading on Thursday . The company traded as high as $52.47 and last traded at $52.18. Approximately 81,971 shares changed hands during trading, a decline of 37% from the average daily volume of 129,895 shares. The stock had previously closed at $50.03.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup reduced their price target on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. UBS Group dropped their price objective on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Scotiabank downgraded BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Finally, Cibc World Mkts downgraded BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BRP has a consensus rating of “Hold” and an average target price of $97.00.

BRP Stock Up 3.9 %

The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.37. The company has a market cap of $3.79 billion, a PE ratio of 27.65 and a beta of 2.03. The company has a fifty day moving average price of $51.27 and a 200 day moving average price of $60.23.

BRP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.1485 per share. This represents a $0.59 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, December 31st. BRP’s payout ratio is 32.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DOOO. Franklin Resources Inc. boosted its stake in BRP by 41.5% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in BRP by 8.3% in the third 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in BRP in the third quarter worth approximately $178,000. Systematic Financial Management LP boosted its stake in BRP by 3.0% in the third quarter. Systematic Financial Management LP now owns 192,084 shares of the company’s stock worth $11,437,000 after buying an additional 5,562 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in BRP by 115.1% in the third quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company’s stock worth $1,124,000 after buying an additional 10,106 shares in 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.