BRP (NASDAQ:DOOO) Trading Down 6.2% – What’s Next?

BRP Inc. (NASDAQ:DOOO)’s stock price traded down 6.2% during trading on Tuesday . The company traded as low as $34.33 and last traded at $34.37. 89,975 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 152,069 shares. The stock had previously closed at $36.64.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOOO. Baird R W lowered BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 price target (down from $48.00) on shares of BRP in a research note on Friday, April 4th. TD Securities reiterated a “hold” rating on shares of BRP in a report on Thursday, March 27th. Finally, Citigroup raised BRP from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $27.00 to $37.00 in a report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.25.

BRP Stock Performance

The company’s fifty day moving average is $38.42 and its 200 day moving average is $47.00. 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 company has a market capitalization of $2.37 billion, a P/E ratio of 17.26 and a beta of 1.71.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, equities analysts anticipate that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a dividend of $0.1508 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.86%. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio (DPR) is -29.21%.

Institutional Investors Weigh In On BRP

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in BRP during the third quarter valued at approximately $178,000. Geode Capital Management LLC boosted its position in BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after buying an additional 15,892 shares during the period. Franklin Resources Inc. increased its position in shares of BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock valued at $43,461,000 after acquiring an additional 214,626 shares during the period. Addenda Capital Inc. increased its holdings in BRP by 10.5% during the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock valued at $678,000 after purchasing an additional 1,265 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after buying an additional 66,627 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.