Citigroup Cuts BRP (NASDAQ:DOO) Price Target to $75.00

BRP (NASDAQ:DOO) had its price target reduced by Citigroup from $86.00 to $75.00 in a research note published on Monday, Marketbeat Ratings reports. Citigroup currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. TD Cowen lowered BRP from a “buy” rating to a “hold” rating in a report on Wednesday, April 15th. TD Securities lowered BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Zacks Research raised BRP from a “hold” rating to a “strong-buy” rating in a report on Friday, March 27th. Canaccord Genuity Group lowered BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of BRP in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, BRP currently has a consensus rating of “Hold” and an average price target of $85.67.

BRP Stock Performance

Shares of DOO opened at $56.49 on Monday. The business has a 50-day moving average price of $69.65. BRP has a fifty-two week low of $32.54 and a fifty-two week high of $81.89. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 19.41 and a beta of 1.15. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 3.92.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, April 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, April 10th. This is a boost from BRP’s previous quarterly dividend of $0.07. BRP’s payout ratio is presently 24.74%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DOO. Quarry LP purchased a new position in BRP during the 4th quarter valued at about $30,000. Signaturefd LLC purchased a new position in BRP during the 4th quarter valued at about $43,000. Quadrant Capital Group LLC purchased a new position in BRP during the 4th quarter valued at about $89,000. PNC Financial Services Group Inc. purchased a new position in BRP during the 4th quarter valued at about $142,000. Finally, Intact Investment Management Inc. purchased a new position in BRP during the 4th quarter valued at about $156,000.

BRP Company Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.