BRP (NASDAQ:DOOO) Shares Down 6.2% – Here’s Why

Shares of BRP Inc. (NASDAQ:DOOO) traded down 6.2% on Tuesday . The company traded as low as $34.33 and last traded at $34.37. 89,975 shares changed hands during trading, a decline of 41% from the average session volume of 152,069 shares. The stock had previously closed at $36.64.

Analyst Ratings Changes

A number of brokerages recently issued reports on DOOO. Robert W. Baird reissued a “neutral” rating and set a $43.00 price target (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Citigroup raised BRP from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $37.00 in a report on Friday, April 4th. TD Securities reaffirmed a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Baird R W downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Raymond James reiterated a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. Ten analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.25.

BRP Stock Down 2.3 %

The company has a fifty day simple moving average of $38.42 and a 200-day simple moving average of $47.00. 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 firm has a market cap of $2.37 billion, a P/E ratio of 17.26 and a beta of 1.71.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, equities analysts anticipate that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be given a dividend of $0.1508 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 1.86%. BRP’s payout ratio is -29.21%.

Institutional Trading of BRP

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock valued at $1,823,000 after purchasing an additional 293 shares in the last quarter. Dnca Finance increased its holdings in shares of BRP by 36.1% in the 4th quarter. Dnca Finance now owns 1,390 shares of the company’s stock valued at $71,000 after acquiring an additional 369 shares during the period. Quadrant Capital Group LLC raised its holdings in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock worth $35,000 after purchasing an additional 490 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after buying an additional 903 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of BRP by 1.4% in the 4th quarter. Jane Street Group LLC now owns 65,470 shares of the company’s stock worth $3,333,000 after buying an additional 933 shares during the last quarter.

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.