BRP Inc. (NASDAQ:DOOO) Receives $97.00 Consensus Target Price from Brokerages

Shares of BRP Inc. (NASDAQ:DOOO) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. Six 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 12-month target price among brokers that have issued ratings on the stock in the last year is $97.00.

DOOO has been the topic of several research analyst reports. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Citigroup decreased their price objective on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Cibc World Mkts downgraded BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Scotiabank downgraded shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Finally, Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

BRP Price Performance

Shares of DOOO opened at $51.52 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99. The company’s fifty day simple moving average is $51.73 and its 200 day simple moving average is $60.60. BRP has a 1-year low of $46.85 and a 1-year high of $75.59. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 27.40 and a beta of 2.03.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.1485 per share. This represents a $0.59 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, December 31st. BRP’s dividend payout ratio (DPR) is presently 32.98%.

Institutional Investors Weigh In On BRP

Several hedge funds have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after acquiring an additional 214,626 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after acquiring an additional 15,892 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of BRP during the third quarter worth $178,000. Systematic Financial Management LP grew its stake in shares of BRP by 3.0% in the third quarter. Systematic Financial Management LP now owns 192,084 shares of the company’s stock worth $11,437,000 after purchasing an additional 5,562 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in BRP by 115.1% in the third quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company’s stock valued at $1,124,000 after purchasing an additional 10,106 shares during the period.

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.