BRP (NASDAQ:DOOO) Hits New 12-Month Low - Here's What Happened

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $35.37 and last traded at $35.46, with a volume of 285833 shares changing hands. The stock had previously closed at $38.23.

Analyst Upgrades and Downgrades

Separately, Citigroup reissued a "sell" rating and set a $27.00 target price (down from $29.00) on shares of BRP in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BRP has a consensus rating of "Hold" and a consensus target price of $87.40.

BRP Stock Performance

The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The company's 50 day moving average price is $41.81 and its 200-day moving average price is $49.02. The stock has a market cap of $2.61 billion, a P/E ratio of 19.02 and a beta of 2.03.

BRP (NASDAQ:DOOO - Get Free Report) 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 net margin of 2.29% and a return on equity of 61.20%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. Equities analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a dividend of $0.1508 per share. This is a positive change from BRP's previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, April 4th. BRP's dividend payout ratio (DPR) is -29.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Turtle Creek Asset Management Inc. raised its stake in shares of 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 purchasing an additional 668,607 shares during the period. Capital World Investors raised its position in BRP by 101.2% in the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company's stock worth $100,386,000 after acquiring an additional 991,392 shares during the period. Mackenzie Financial Corp raised its position in BRP by 71.7% in the fourth quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company's stock worth $83,399,000 after acquiring an additional 684,651 shares during the period. The Manufacturers Life Insurance Company boosted its stake in BRP by 23.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company's stock valued at $77,223,000 after acquiring an additional 288,004 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of BRP by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company's stock valued at $62,355,000 after acquiring an additional 19,874 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.