Royal Bank Of Canada Cuts BRP (TSE:DOO) Price Target to C$107.00

BRP (TSE:DOO) had its target price cut by Royal Bank Of Canada from C$124.00 to C$107.00 in a report released on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on DOO. TD Securities cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Scotia reduced their target price on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating for the company in a research note on Thursday, April 16th. Raymond James Financial reduced their target price on shares of BRP from C$117.00 to C$115.00 in a research note on Friday, March 27th. TD cut shares of BRP from a “buy” rating to a “hold” rating and reduced their target price for the company from C$119.00 to C$84.00 in a research note on Wednesday, April 15th. Finally, Wells Fargo & Company lifted their target price on shares of BRP from C$105.00 to C$110.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$105.20.

BRP Stock Performance

Shares of DOO opened at C$77.31 on Monday. The company’s 50 day moving average price is C$95.63 and its 200 day moving average price is C$97.42. BRP has a 52 week low of C$44.98 and a 52 week high of C$112.26. The company has a market capitalization of C$5.65 billion, a PE ratio of 19.57, a PEG ratio of 2.05 and a beta of 0.94. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27.

BRP (TSE:DOO) last announced its quarterly earnings data on Thursday, March 26th. The company reported C$2.21 EPS for the quarter. The firm had revenue of C$2.46 billion for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. Research analysts expect that BRP will post 6.890971 EPS for the current fiscal year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, April 10th. BRP’s payout ratio is presently 21.77%.

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. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).