BRP (NASDAQ:DOOO) Shares Down 4.6% - Here's What Happened

Shares of BRP Inc. (NASDAQ:DOOO - Get Free Report) were down 4.6% during trading on Tuesday . The company traded as low as $53.18 and last traded at $53.18. Approximately 71,988 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 122,881 shares. The stock had previously closed at $55.75.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DOOO shares. Scotiabank downgraded shares of BRP from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, September 9th. Citigroup dropped their target price on shares of BRP from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. National Bank Financial downgraded shares of BRP from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, August 21st. Stifel Nicolaus downgraded shares of BRP from a "buy" rating to a "hold" rating in a research note on Wednesday, August 21st. Finally, Cibc World Mkts downgraded shares of BRP from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BRP currently has an average rating of "Hold" and a consensus target price of $97.00.

BRP Trading Down 7.3 %

The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The stock's 50 day moving average price is $63.08 and its 200-day moving average price is $65.74. The stock has a market capitalization of $3.83 billion, a P/E ratio of 9.34 and a beta of 2.06.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. As a group, equities research analysts expect that BRP Inc. will post 2.21 earnings per share for the current year.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.152 per share. The ex-dividend date was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 1.18%. BRP's payout ratio is 11.21%.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd lifted its position in BRP by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company's stock valued at $34,000 after acquiring an additional 200 shares during the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in shares of BRP in the first quarter worth $50,000. Dnca Finance purchased a new position in shares of BRP in the second quarter worth $66,000. Spartan Fund Management Inc. purchased a new position in shares of BRP in the third quarter worth $72,000. Finally, Lake Street Advisors Group LLC purchased a new position in shares of BRP in the second quarter worth $201,000.

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.