BRP (NASDAQ:DOOO) Hits New 1-Year Low - Here's What Happened

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $40.13 and last traded at $40.40, with a volume of 97514 shares trading hands. The stock had previously closed at $40.94.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded BRP from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $97.00.

BRP Stock Down 3.9 %

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 firm has a 50 day simple moving average of $47.80 and a two-hundred day simple moving average of $53.59. The stock has a market cap of $2.78 billion, a P/E ratio of 20.27 and a beta of 2.02.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings data on Friday, December 6th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. Equities research analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a $0.1485 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.56%. BRP's dividend payout ratio (DPR) is 30.85%.

Hedge Funds Weigh In On BRP

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc boosted its stake in BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock valued at $7,270,000 after buying an additional 16,379 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BRP by 17.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock valued at $24,159,000 after acquiring an additional 61,502 shares during the last quarter. Alberta Investment Management Corp boosted its position in shares of BRP by 44.2% during the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock valued at $2,408,000 after purchasing an additional 14,500 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock worth $3,875,000 after purchasing an additional 66,627 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock valued at $12,978,000 after purchasing an additional 15,892 shares during 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.