BRP (TSE:DOO) Sets New 52-Week High – Time to Buy?

BRP Inc. (TSE:DOO)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$96.55 and last traded at C$95.94, with a volume of 179917 shares changing hands. The stock had previously closed at C$91.00.

Analyst Ratings Changes

Several research analysts recently commented on DOO shares. Royal Bank Of Canada increased their target price on shares of BRP from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Loop Capital raised shares of BRP to a “strong-buy” rating in a research report on Thursday, November 13th. Stifel Nicolaus increased their target price on BRP from C$97.00 to C$106.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Citigroup upgraded BRP from a “hold” rating to a “buy” rating and boosted their price target for the company from C$93.00 to C$102.00 in a research note on Wednesday, October 1st. Finally, Cibc World Mkts upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 1st. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$94.85.

BRP Price Performance

The company has a debt-to-equity ratio of 573.79, a current ratio of 1.37 and a quick ratio of 0.20. The firm has a market cap of C$7.18 billion, a PE ratio of -196.34, a P/E/G ratio of 2.05 and a beta of 1.09. The business’s fifty day moving average is C$89.76 and its 200-day moving average is C$76.45.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, October 14th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 29th. BRP’s dividend payout ratio is -170.00%.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.