BRP (NASDAQ:DOOO) Sets New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

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

BRP Stock Performance

The firm’s 50-day simple moving average is $48.31 and its two-hundred day simple moving average is $54.06. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The stock has a market capitalization of $2.95 billion, a PE ratio of 21.49 and a beta of 2.02.

BRP (NASDAQ:DOOO) last issued 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%. On average, equities research analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.1485 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 annualized dividend and a yield of 1.47%. BRP’s dividend payout ratio is presently 30.85%.

Hedge Funds Weigh In On BRP

Several institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc raised its holdings in shares of BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock worth $7,270,000 after acquiring an additional 16,379 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in BRP by 17.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock valued at $24,159,000 after purchasing an additional 61,502 shares in the last quarter. Alberta Investment Management Corp increased its position in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock worth $2,408,000 after purchasing an additional 14,500 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after purchasing an additional 66,627 shares in the last quarter. Finally, Geode Capital Management LLC lifted 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 valued at $12,978,000 after acquiring an additional 15,892 shares during the last quarter.

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.