Analysts Set BRP Inc. (NASDAQ:DOOO) Price Target at $68.38

BRP Inc. (NASDAQ:DOOO) has been given a consensus rating of “Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $68.38.

A number of research firms have weighed in on DOOO. UBS Group upped their target price on BRP from $49.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Zacks Investment Research upgraded BRP from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 1st. Royal Bank of Canada upgraded BRP from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 26th. ValuEngine downgraded BRP from a “hold” rating to a “sell” rating in a research note on Wednesday, December 2nd. Finally, BMO Capital Markets upped their price target on BRP from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Thursday, November 26th.

A number of institutional investors have recently made changes to their positions in the stock. Cidel Asset Management Inc. raised its holdings in BRP by 2.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 10,278 shares of the company’s stock worth $541,000 after purchasing an additional 246 shares during the period. Great West Life Assurance Co. Can raised its holdings in BRP by 10.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,937 shares of the company’s stock worth $307,000 after purchasing an additional 549 shares during the period. DekaBank Deutsche Girozentrale bought a new position in BRP in the 3rd quarter worth $31,000. CIBC Asset Management Inc raised its holdings in BRP by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 38,535 shares of the company’s stock worth $2,034,000 after purchasing an additional 1,227 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in BRP in the 3rd quarter worth $113,000. 25.95% of the stock is currently owned by institutional investors.

DOOO traded up $0.73 during midday trading on Tuesday, reaching $65.09. 53,146 shares of the company’s stock traded hands, compared to its average volume of 114,046. BRP has a 52 week low of $12.97 and a 52 week high of $68.77. The firm has a fifty day moving average of $58.66 and a two-hundred day moving average of $51.44. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 36.36 and a beta of 3.03.

BRP (NASDAQ:DOOO) last posted its earnings results on Tuesday, November 24th. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $1.12. BRP had a negative return on equity of 67.06% and a net margin of 3.78%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. As a group, equities analysts predict that BRP will post 3.95 earnings per share for the current fiscal year.

The business also recently announced a Variable dividend, which will be paid on Thursday, January 14th. Investors of record on Thursday, December 31st will be issued a $0.083 dividend. The ex-dividend date is Wednesday, December 30th. This represents a yield of 0.6%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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