BRP (NASDAQ:DOOO) PT Lowered to $75.00 at Citigroup

BRP (NASDAQ:DOOO) had its target price cut by Citigroup from $80.00 to $75.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus lowered BRP from a buy rating to a hold rating in a research note on Wednesday, August 21st. CIBC lowered their price target on BRP from $110.00 to $100.00 and set an outperformer rating on the stock in a research note on Monday, June 3rd. Scotiabank downgraded BRP from a sector outperform rating to a sector perform rating in a report on Monday. Finally, National Bank Financial downgraded BRP from an outperform rating to a sector perform rating in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $113.40.

BRP Trading Down 6.7 %

Shares of DOOO opened at $58.67 on Monday. BRP has a 12-month low of $57.15 and a 12-month high of $79.40. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 4.23. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 10.61 and a beta of 2.07. The stock’s 50-day moving average price is $68.09 and its 200 day moving average price is $66.95.

BRP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, September 27th. BRP’s payout ratio is currently 11.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DOOO. The Manufacturers Life Insurance Company boosted its holdings in shares of BRP by 539.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock worth $40,105,000 after acquiring an additional 471,986 shares in the last quarter. QV Investors Inc. acquired a new position in shares of BRP in the 2nd quarter worth approximately $28,142,000. Norges Bank acquired a new position in shares of BRP in the 4th quarter worth approximately $30,666,000. The Manufacturers Life Insurance Company boosted its holdings in shares of BRP by 61.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock worth $68,850,000 after acquiring an additional 408,692 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in BRP by 45.6% during the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock worth $68,656,000 after buying an additional 335,715 shares in the last quarter.

About BRP

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.