BRP (NASDAQ:DOOO) Sees Strong Trading Volume - Here's What Happened

Shares of BRP Inc. (NASDAQ:DOOO - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 113,429 shares were traded during trading, a decline of 33% from the previous session's volume of 168,589 shares.The stock last traded at $44.58 and had previously closed at $43.95.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut BRP from a "buy" rating to a "neutral" rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $97.00.

BRP Price Performance

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 business's 50-day simple moving average is $50.72 and its 200 day simple moving average is $56.78. The firm has a market capitalization of $3.12 billion, a P/E ratio of 22.76 and a beta of 2.02.

BRP (NASDAQ:DOOO - Get Free Report) last issued its quarterly earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. Sell-side analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.1485 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Tuesday, December 31st. BRP's dividend payout ratio (DPR) is presently 30.85%.

Institutional Trading of BRP

A number of institutional investors have recently made changes to their positions in DOOO. US Bancorp DE lifted its stake in BRP by 350.0% in the third quarter. US Bancorp DE now owns 414 shares of the company's stock worth $25,000 after acquiring an additional 322 shares during the period. Spartan Fund Management Inc. purchased a new stake in BRP in the third quarter worth $72,000. DRW Securities LLC purchased a new stake in BRP in the third quarter worth $161,000. Public Employees Retirement System of Ohio purchased a new stake in BRP in the third quarter worth $178,000. Finally, Creative Planning purchased a new stake in BRP in the third quarter worth $227,000.

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.