Analysts Set BRP Inc. (NASDAQ:DOOO) PT at $111.75

Shares of BRP Inc. (NASDAQ:DOOO) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $111.75.

DOOO has been the topic of a number of recent analyst reports. TheStreet cut BRP from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Desjardins raised their target price on shares of BRP from $112.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Raymond James decreased their target price on shares of BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 1st. Finally, CIBC increased their price target on BRP from $106.00 to $110.00 and gave the company an “outperformer” rating in a research note on Monday, April 1st.

Institutional Investors Weigh In On BRP

A number of institutional investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its holdings in BRP by 39.6% in the third quarter. Toronto Dominion Bank now owns 28,554 shares of the company’s stock valued at $2,166,000 after buying an additional 8,105 shares during the period. TD Asset Management Inc boosted its position in shares of BRP by 21.2% during the 3rd quarter. TD Asset Management Inc now owns 249,781 shares of the company’s stock valued at $18,994,000 after purchasing an additional 43,663 shares in the last quarter. Royal Bank of Canada boosted its position in shares of BRP by 34.0% during the 3rd quarter. Royal Bank of Canada now owns 589,213 shares of the company’s stock valued at $44,697,000 after purchasing an additional 149,529 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in BRP by 10.9% during the third quarter. Westfield Capital Management Co. LP now owns 1,094,083 shares of the company’s stock worth $82,997,000 after purchasing an additional 107,383 shares during the period. Finally, Aigen Investment Management LP bought a new stake in BRP in the third quarter worth approximately $600,000.

BRP Stock Performance

NASDAQ DOOO opened at $68.90 on Monday. The firm has a 50-day moving average price of $67.09 and a two-hundred day moving average price of $67.90. BRP has a 12-month low of $57.15 and a 12-month high of $92.74. The company has a market capitalization of $5.22 billion, a P/E ratio of 9.89 and a beta of 2.09. The company has a quick ratio of 0.55, a current ratio of 1.41 and a debt-to-equity ratio of 3.32.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Thursday, March 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.12). The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.05 billion. BRP had a net margin of 7.20% and a return on equity of 120.39%. Analysts anticipate that BRP will post 5.7 earnings per share for the current year.

BRP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a $0.1545 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, April 5th. BRP’s dividend payout ratio is currently 8.83%.

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.