BRP (NASDAQ:DOOO) Cut to “Neutral” at Citigroup

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

BRP Trading Up 2.8 %

DOOO opened at $45.49 on Monday. 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 has a 52 week low of $41.10 and a 52 week high of $75.59. The stock has a market cap of $3.32 billion, a PE ratio of 24.20 and a beta of 2.02. The business has a 50 day moving average of $50.82 and a 200-day moving average of $56.88.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that BRP will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.1485 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Tuesday, December 31st. BRP’s dividend payout ratio (DPR) is presently 30.85%.

Hedge Funds Weigh In On BRP

A number of institutional investors and hedge funds have recently made changes to their positions in DOOO. US Bancorp DE grew its stake in shares of BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after buying an additional 322 shares during the last quarter. Quantbot Technologies LP boosted its holdings in BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock worth $228,000 after acquiring an additional 337 shares in the last quarter. Spartan Fund Management Inc. bought a new stake in BRP in the third quarter worth $72,000. Addenda Capital Inc. grew its stake in shares of BRP by 10.5% in the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock worth $678,000 after acquiring an additional 1,265 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of BRP by 18.6% during the third quarter. Van ECK Associates Corp now owns 9,520 shares of the company’s stock valued at $567,000 after acquiring an additional 1,490 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.