BRP (NASDAQ:DOOO) Hits New 12-Month Low – Time to Sell?

BRP Inc. (NASDAQ:DOOO) reached a new 52-week low during trading on Thursday . The company traded as low as $40.13 and last traded at $40.40, with a volume of 97514 shares trading hands. The stock had previously closed at $40.94.

Analysts Set New Price Targets

Separately, Citigroup downgraded 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $97.00.

BRP Trading Up 1.3 %

The firm has a 50-day moving average of $48.06 and a 200 day moving average of $53.96. The company has a market cap of $2.89 billion, a P/E ratio of 21.09 and a beta of 2.02. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results 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%. On average, analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The business also recently declared 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 1.50%. The ex-dividend date was Tuesday, December 31st. BRP’s payout ratio is 30.85%.

Hedge Funds Weigh In On BRP

Several institutional investors have recently made changes to their positions in the stock. Turtle Creek Asset Management Inc. raised its stake in BRP by 29.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock worth $151,118,000 after buying an additional 668,607 shares during the period. Capital World Investors increased its holdings in shares of BRP by 101.2% during the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock valued at $100,386,000 after acquiring an additional 991,392 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of BRP by 71.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock worth $83,399,000 after purchasing an additional 684,651 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of BRP by 23.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company’s stock worth $77,223,000 after purchasing an additional 288,004 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after purchasing an additional 150,039 shares during the period.

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.