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

BRP Inc. (NASDAQ:DOOO) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $49.00 and last traded at $49.01, with a volume of 67281 shares trading hands. The stock had previously closed at $50.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DOOO shares. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Citigroup reduced their price target on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $97.00.

BRP Stock Performance

The stock has a market capitalization of $3.58 billion, a PE ratio of 20.32 and a beta of 2.07. The business has a 50 day moving average price of $58.66 and a 200 day moving average price of $64.06. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37.

BRP (NASDAQ:DOOO) last released its earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. BRP had a return on equity of 79.58% and a net margin of 2.78%. As a group, equities research analysts expect that BRP Inc. will post 2.3 earnings per share for the current year.

BRP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, September 27th. BRP’s payout ratio is currently 25.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DOOO. US Bancorp DE lifted its holdings in shares of BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of BRP by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Dnca Finance bought a new position in shares of BRP during the second quarter valued at $66,000. Spartan Fund Management Inc. bought a new position in shares of BRP during the third quarter valued at $72,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of BRP during the second quarter valued at $201,000.

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.