BRP (NASDAQ:DOOO) Trading Down 5.7% – Here’s Why

Shares of BRP Inc. (NASDAQ:DOOO) dropped 5.7% during trading on Tuesday . The company traded as low as $47.92 and last traded at $47.92. Approximately 51,146 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 126,581 shares. The stock had previously closed at $50.84.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOOO. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Cibc World Mkts cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. UBS Group decreased their target price on BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Finally, Scotiabank cut shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, BRP presently has an average rating of “Hold” and a consensus target price of $97.00.

BRP Price Performance

The firm’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $62.17. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The firm has a market capitalization of $3.49 billion, a PE ratio of 19.61 and a beta of 2.07.

BRP (NASDAQ:DOOO) last issued its earnings results on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. BRP had a return on equity of 79.58% and a net margin of 2.78%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. On average, research analysts forecast that BRP Inc. will post 2.27 earnings per share for the current fiscal year.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.152 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 1.27%. BRP’s payout ratio is 25.73%.

Hedge Funds Weigh In On BRP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after acquiring an additional 15,892 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of BRP in the third quarter worth about $178,000. Systematic Financial Management LP raised its stake in BRP by 3.0% during the 3rd quarter. Systematic Financial Management LP now owns 192,084 shares of the company’s stock valued at $11,437,000 after purchasing an additional 5,562 shares during the period. Hantz Financial Services Inc. grew its holdings in BRP by 115.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company’s stock valued at $1,124,000 after buying an additional 10,106 shares in the last quarter. Finally, De Lisle Partners LLP lifted its holdings in shares of BRP by 10.8% in the third quarter. De Lisle Partners LLP now owns 27,605 shares of the company’s stock worth $1,643,000 after buying an additional 2,697 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.