BRP Inc. (NASDAQ:DOOO) Receives Average Recommendation of “Moderate Buy” from Brokerages

BRP Inc. (NASDAQ:DOOOGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $108.29.

Several analysts recently weighed in on the company. Desjardins lifted their price target on BRP from $112.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. CIBC dropped their price objective on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a report on Monday, June 3rd. Raymond James dropped their price objective on BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a report on Monday, April 1st. Finally, TheStreet cut BRP from a “b-” rating to a “c+” rating in a report on Monday, February 26th.

Check Out Our Latest Stock Report on DOOO

BRP Stock Performance

NASDAQ:DOOO opened at $65.19 on Tuesday. The stock has a market cap of $4.83 billion, a P/E ratio of 11.79 and a beta of 2.09. The stock has a 50 day simple moving average of $66.57 and a 200 day simple moving average of $66.82. The company has a current ratio of 1.35, a quick ratio of 0.46 and a debt-to-equity ratio of 4.23. BRP has a 1-year low of $57.15 and a 1-year high of $92.74.

BRP (NASDAQ:DOOOGet Free Report) last released its quarterly earnings results on Friday, May 31st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. BRP had a return on equity of 101.72% and a net margin of 5.87%. Research analysts anticipate that BRP will post 4.51 earnings per share for the current year.

BRP Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.152 per share. The ex-dividend date is Friday, June 28th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.93%. BRP’s dividend payout ratio (DPR) is currently 11.21%.

Hedge Funds Weigh In On BRP

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in BRP by 539.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock worth $40,105,000 after acquiring an additional 471,986 shares during the last quarter. Norges Bank bought a new stake in BRP during the 4th quarter worth $30,666,000. Goldman Sachs Group Inc. grew its position in BRP by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock worth $50,975,000 after acquiring an additional 184,313 shares during the last quarter. Royal Bank of Canada grew its position in BRP by 34.0% during the 3rd quarter. Royal Bank of Canada now owns 589,213 shares of the company’s stock worth $44,697,000 after acquiring an additional 149,529 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in BRP by 10.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,094,083 shares of the company’s stock worth $82,997,000 after acquiring an additional 107,383 shares during the last quarter.

About BRP

(Get Free Report

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.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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