BRP (NASDAQ:DOOO) Shares Gap Down to $66.08

BRP Inc. (NASDAQ:DOOO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $66.08, but opened at $61.00. BRP shares last traded at $65.34, with a volume of 126,734 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on DOOO shares. CIBC cut their price target on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a report on Monday, June 3rd. Citigroup lifted their price target on shares of BRP from $73.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.75.

BRP Stock Performance

The stock’s 50-day moving average price is $68.18 and its 200 day moving average price is $67.02. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.35 and a quick ratio of 0.46. The firm has a market cap of $4.66 billion, a P/E ratio of 11.38 and a beta of 2.07.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. BRP had a net margin of 5.87% and a return on equity of 101.72%. As a group, equities analysts predict that BRP Inc. will post 4.33 EPS for the current year.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a dividend of $0.152 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 0.97%. BRP’s payout ratio is 11.03%.

Hedge Funds Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in BRP by 61.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock worth $68,850,000 after buying an additional 408,692 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of BRP by 45.6% in the second quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after purchasing an additional 335,715 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of BRP by 35.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock valued at $50,975,000 after purchasing an additional 184,313 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of BRP by 539.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock valued at $40,105,000 after purchasing an additional 471,986 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of BRP by 13.5% in the second quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock valued at $30,455,000 after purchasing an additional 56,954 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.