BRP (NASDAQ:DOOO) Trading Down 5.5% - Time to Sell?

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s stock price traded down 5.5% on Thursday . The company traded as low as $36.39 and last traded at $36.13. 31,865 shares changed hands during trading, a decline of 78% from the average session volume of 144,199 shares. The stock had previously closed at $38.23.

Analysts Set New Price Targets

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

BRP Trading Down 0.6 %

The firm's fifty day simple moving average is $42.54 and its 200-day simple moving average is $49.41. 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 stock has a market cap of $2.47 billion, a P/E ratio of 17.98 and a beta of 2.03.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. Equities research analysts expect that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.1508 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from BRP's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 1.78%. BRP's dividend payout ratio (DPR) is -29.21%.

Hedge Funds Weigh In On BRP

Several hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in shares of BRP by 259.3% during the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after acquiring an additional 490 shares during the last quarter. Signaturefd LLC grew its holdings in BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after acquiring an additional 903 shares during the last quarter. Dnca Finance increased its holdings in BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock valued at $71,000 after purchasing an additional 369 shares during the period. C M Bidwell & Associates Ltd. bought a new position in BRP in the 4th quarter worth $77,000. Finally, Intact Investment Management Inc. purchased a new position in shares of BRP in the 4th quarter valued at approximately $148,000.

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.