BRP (TSE:DOO) Reaches New 12-Month Low – Time to Sell?

Shares of BRP Inc. (TSE:DOO) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$47.00 and last traded at C$47.66, with a volume of 124076 shares trading hands. The stock had previously closed at C$50.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank lowered their price objective on BRP from C$91.00 to C$86.00 and set a “sector perform” rating for the company in a research note on Monday, December 9th. Royal Bank of Canada lowered their price target on BRP from C$99.00 to C$69.00 in a research report on Friday, March 28th. BMO Capital Markets dropped their price objective on shares of BRP from C$100.00 to C$70.00 in a research note on Thursday, March 27th. CIBC reduced their target price on shares of BRP from C$82.00 to C$64.00 in a research note on Thursday, March 27th. Finally, Canaccord Genuity Group dropped their price target on shares of BRP from C$80.00 to C$60.00 in a research note on Friday, March 21st. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BRP currently has a consensus rating of “Hold” and an average price target of C$72.23.

BRP Stock Performance

The company has a quick ratio of 0.20, a current ratio of 1.37 and a debt-to-equity ratio of 573.79. The firm has a 50 day moving average price of C$57.93 and a 200 day moving average price of C$68.24. The stock has a market cap of C$3.48 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.05 and a beta of 2.28.

BRP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 18th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.86 annualized dividend and a dividend yield of 1.82%. This is a positive change from BRP’s previous quarterly dividend of $0.21. BRP’s payout ratio is currently 31.66%.

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.