BRP Inc. (NASDAQ:DOOO) Receives Average Rating of “Moderate Buy” from Analysts

BRP Inc. (NASDAQ:DOOO) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.33.

Several equities analysts have recently weighed in on the stock. Raymond James reissued a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Baird R W lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. TD Securities raised shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Friday, May 30th. Robert W. Baird restated a “neutral” rating and set a $43.00 price objective (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Finally, UBS Group decreased their target price on BRP from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. FIL Ltd boosted its stake in shares of BRP by 176.2% in the fourth quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after buying an additional 505,228 shares during the period. CIBC Asset Management Inc raised its holdings in BRP by 14.0% in the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after acquiring an additional 16,379 shares in the last quarter. Invesco Ltd. lifted its position in shares of BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company’s stock valued at $59,175,000 after acquiring an additional 178,039 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of BRP during the 4th quarter worth $916,000. Finally, Alberta Investment Management Corp increased its position in shares of BRP by 44.2% in the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock worth $2,408,000 after purchasing an additional 14,500 shares during the period.

BRP Stock Down 0.8%

Shares of DOOO stock opened at $46.67 on Friday. BRP has a 52-week low of $31.78 and a 52-week high of $74.00. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 24.82 and a beta of 1.23. The firm’s 50-day moving average is $36.57 and its 200-day moving average is $42.77.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.78 billion. Sell-side analysts predict that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a $0.1557 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.62 dividend on an annualized basis and a yield of 1.33%. This is an increase from BRP’s previous quarterly dividend of $0.15. BRP’s payout ratio is currently -151.22%.

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.