BRP (NASDAQ:DOOO) Reaches New 1-Year Low - Here's Why

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $41.32 and last traded at $42.34, with a volume of 6420 shares traded. The stock had previously closed at $47.81.

Wall Street Analyst Weigh In

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

BRP Stock Performance

The stock's 50 day moving average price is $50.82 and its 200 day moving average price is $56.88. The company has a market capitalization of $3.18 billion, a P/E ratio of 23.18 and a beta of 2.02. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

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

BRP Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.1485 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, December 31st. BRP's payout ratio is 30.85%.

Institutional Trading of BRP

Several hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in BRP by 17.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock valued at $24,159,000 after purchasing an additional 61,502 shares in the last quarter. Geode Capital Management LLC increased its position in BRP by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock valued at $12,978,000 after buying an additional 15,892 shares in the last quarter. CIBC Asset Management Inc raised its stake in BRP by 154.5% during the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company's stock worth $7,347,000 after buying an additional 70,819 shares during the period. The Manufacturers Life Insurance Company grew its stake in BRP by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company's stock valued at $73,027,000 after acquiring an additional 150,039 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of BRP by 706.1% during the third quarter. Intech Investment Management LLC now owns 26,318 shares of the company's stock valued at $1,568,000 after acquiring an additional 23,053 shares in 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.