Brokerages Set BRP Inc. (NASDAQ:DOOO) Target Price at $97.00

BRP Inc. (NASDAQ:DOOO) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $97.00.

A number of research analysts have weighed in on the stock. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. UBS Group reduced their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Citigroup decreased their price objective on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, September 9th.

Institutional Trading of BRP

Hedge funds have recently added to or reduced their stakes in the company. Addenda Capital Inc. grew its position in shares of BRP by 5.3% during the 1st quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock worth $710,000 after purchasing an additional 528 shares in the last quarter. Trivant Custom Portfolio Group LLC bought a new position in BRP during the 1st quarter worth $50,000. BNP Paribas Financial Markets raised its holdings in BRP by 753.8% in the 1st quarter. BNP Paribas Financial Markets now owns 6,002 shares of the company’s stock valued at $403,000 after acquiring an additional 5,299 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of BRP during the 1st quarter valued at $3,178,000. Finally, Sei Investments Co. acquired a new stake in shares of BRP during the 1st quarter worth $5,376,000.

BRP Stock Down 1.0 %

NASDAQ:DOOO opened at $51.17 on Monday. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. BRP has a 12-month low of $49.92 and a 12-month high of $77.12. The stock’s fifty day simple moving average is $62.45 and its 200-day simple moving average is $65.49. The firm has a market capitalization of $3.79 billion, a P/E ratio of 9.25 and a beta of 2.06.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.23. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. BRP had a net margin of 2.78% and a return on equity of 79.58%. Equities research analysts expect that BRP will post 2.21 earnings per share for the current year.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.152 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, September 27th. BRP’s payout ratio is 11.21%.

BRP Company Profile

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.