BRP (NASDAQ:DOOO) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of BRP (NASDAQ:DOOO) from a strong-buy rating to a buy rating in a report released on Saturday.

Several other research analysts have also recently weighed in on the company. UBS Group boosted their target price on BRP from $35.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Citigroup upgraded BRP from a “neutral” rating to a “buy” rating and upped their target price for the company from $68.00 to $73.00 in a report on Wednesday, October 1st. BMO Capital Markets reiterated an “outperform” rating on shares of BRP in a report on Tuesday, September 2nd. Cibc World Mkts raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of BRP in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.60.

BRP Trading Up 0.4%

Shares of DOOO opened at $64.51 on Friday. BRP has a 52-week low of $31.78 and a 52-week high of $68.45. The company has a quick ratio of 0.55, a current ratio of 1.34 and a debt-to-equity ratio of 5.54. The firm’s fifty day moving average is $64.23 and its two-hundred day moving average is $55.23. The stock has a market cap of $4.71 billion, a PE ratio of -268.79 and a beta of 1.21.

BRP (NASDAQ:DOOO) last issued its earnings results on Friday, August 29th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.34. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.77 billion. BRP had a negative net margin of 0.34% and a positive return on equity of 61.26%. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Research analysts forecast that BRP will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from BRP’s previous quarterly dividend of $0.16. BRP’s dividend payout ratio is -258.33%.

Institutional Trading of BRP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of BRP by 905.8% during the second quarter. Osaic Holdings Inc. now owns 694 shares of the company’s stock worth $34,000 after buying an additional 625 shares during the period. Sagard Holdings Management Inc. acquired a new position in BRP during the 2nd quarter worth about $41,000. Raymond James Financial Inc. acquired a new position in BRP in the 2nd quarter valued at about $60,000. JPMorgan Chase & Co. increased its stake in BRP by 1,057.4% during the third quarter. JPMorgan Chase & Co. now owns 1,088 shares of the company’s stock worth $66,000 after purchasing an additional 994 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of BRP in the first quarter valued at approximately $70,000.

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.