BRP (NASDAQ:DOOO) Sets New 52-Week Low - Here's What Happened

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $36.27 and last traded at $36.65, with a volume of 12068 shares traded. The stock had previously closed at $37.21.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of BRP from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $48.00 to $29.00 in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $87.80.

BRP Trading Down 6.7 %

The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The stock has a market capitalization of $2.59 billion, a PE ratio of 18.90 and a beta of 2.03. The business's 50-day moving average is $43.56 and its two-hundred day moving average is $49.91.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DOOO. Capital World Investors boosted its holdings in shares of BRP by 101.2% in the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company's stock valued at $100,386,000 after acquiring an additional 991,392 shares during the period. Mackenzie Financial Corp boosted its stake in BRP by 71.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company's stock worth $83,399,000 after purchasing an additional 684,651 shares during the period. Turtle Creek Asset Management Inc. grew its position in 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 last quarter. FIL Ltd grew its position in BRP by 176.2% during the 4th quarter. FIL Ltd now owns 792,000 shares of the company's stock worth $40,337,000 after purchasing an additional 505,228 shares during the last quarter. Finally, Norges Bank acquired a new position in BRP in the fourth quarter valued at $15,259,000.

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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.