BRP (TSE:DOO) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

BRP Inc. (TSE:DOO) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$73.78 and traded as high as C$90.70. BRP shares last traded at C$90.17, with a volume of 37,980 shares changing hands.

Wall Street Analyst Weigh In

DOO has been the subject of a number of research analyst reports. Cibc World Mkts upgraded BRP from a “hold” rating to a “strong-buy” rating in a report on Monday, September 1st. Stifel Nicolaus upped their target price on shares of BRP from C$97.00 to C$106.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Canaccord Genuity Group increased their target price on shares of BRP from C$108.00 to C$116.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Scotiabank boosted their price target on shares of BRP from C$98.00 to C$102.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 14th. Finally, CIBC upgraded shares of BRP from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from C$66.00 to C$100.00 in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, BRP currently has a consensus rating of “Moderate Buy” and a consensus price target of C$94.54.

BRP Stock Performance

The stock has a 50-day moving average price of C$89.93 and a 200 day moving average price of C$73.78. 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 market capitalization of C$6.59 billion, a price-to-earnings ratio of -180.34, a P/E/G ratio of 2.05 and a beta of 1.09.

BRP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, September 29th. BRP’s payout ratio is currently -170.00%.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.