BRP (TSE:DOO) Price Target Cut to C$74.00 by Analysts at Citigroup

BRP (TSE:DOO – Get Free Report) had its target price cut by Citigroup from C$75.00 to C$74.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential downside of 6.16% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Ci Capital decreased their target price on shares of BRP from C$128.00 to C$119.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. TD Securities cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Canaccord Genuity Group downgraded shares of BRP from a “buy” rating to a “hold” rating and reduced their price target for the company from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Scotia lowered their price objective on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating for the company in a research report on Thursday, April 16th. Finally, Seaport Research Partners cut shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$98.33.

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BRP Trading Down 2.6%

DOO stock traded down C$2.07 during midday trading on Friday, hitting C$78.86. 160,259 shares of the company’s stock were exchanged, compared to its average volume of 296,492. The business has a 50-day simple moving average of C$84.75 and a two-hundred day simple moving average of C$94.93. The company has a current ratio of 1.27, a quick ratio of 0.20 and a debt-to-equity ratio of 443.59. The stock has a market capitalization of C$5.81 billion, a PE ratio of 19.96, a P/E/G ratio of 2.05 and a beta of 1.03. BRP has a 1-year low of C$53.60 and a 1-year high of C$112.26.

BRP (TSE:DOO – Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported C$1.83 earnings per share (EPS) for the quarter. The company had revenue of C$2.39 billion during the quarter. BRP had a return on equity of 54.95% and a net margin of 3.45%. On average, sell-side analysts predict that BRP will post 6.890971 EPS for the current fiscal year.

About BRP

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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).

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