BRP (TSE:DOO) Sets New 52-Week High – Here’s Why

Shares of BRP Inc. (TSE:DOO) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$96.55 and last traded at C$95.94, with a volume of 179917 shares. The stock had previously closed at C$91.00.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. TD Securities boosted their price target on shares of BRP from C$87.00 to C$107.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Scotiabank raised their price target on BRP from C$98.00 to C$102.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 14th. Stifel Nicolaus boosted their price objective on BRP from C$97.00 to C$106.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Royal Bank Of Canada lifted their target price on shares of BRP from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Loop Capital raised shares of BRP to a “strong-buy” rating in a research report on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$94.85.

BRP Stock Performance

The company has a debt-to-equity ratio of 573.79, a current ratio of 1.37 and a quick ratio of 0.20. The business has a 50-day simple moving average of C$89.76 and a 200 day simple moving average of C$76.45. The firm has a market cap of C$7.18 billion, a PE ratio of -196.34, a PEG ratio of 2.05 and a beta of 1.09.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, October 14th were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, September 29th. BRP’s dividend payout ratio is presently -170.00%.

BRP Company Profile

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.