Analysts Set BRP Inc. (NASDAQ:DOOO) Price Target at $87.80

BRP Inc. (NASDAQ:DOOO) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given 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 $87.80.

Separately, Citigroup lowered BRP from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $48.00 to $29.00 in a research note on Thursday, March 20th.

BRP Trading Down 7.2 %

NASDAQ DOOO opened at $35.46 on Tuesday. The firm has a market cap of $2.59 billion, a PE ratio of 18.86 and a beta of 2.03. BRP has a 1-year low of $35.37 and a 1-year high of $75.59. The stock has a 50-day moving average of $42.90 and a 200-day moving average of $49.73. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. As a group, sell-side analysts forecast that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a dividend of $0.1508 per share. The ex-dividend date is Friday, April 4th. This is a positive change from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 1.70%. BRP’s payout ratio is currently 30.85%.

Hedge Funds Weigh In On BRP

Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of BRP by 101.2% in the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock worth $100,386,000 after buying an additional 991,392 shares during the period. Mackenzie Financial Corp boosted its stake in BRP by 71.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock worth $83,399,000 after acquiring an additional 684,651 shares in the last quarter. Turtle Creek Asset Management Inc. increased its stake in shares of BRP by 29.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after purchasing an additional 668,607 shares in the last quarter. FIL Ltd lifted its holdings in shares of BRP by 176.2% during the fourth quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after purchasing an additional 505,228 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of BRP in the 4th quarter worth approximately $15,259,000.

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.