BRP (TSE:DOO) Stock Passes Above 200-Day Moving Average – What’s Next?

BRP Inc. (TSE:DOO)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$73.78 and traded as high as C$90.70. BRP shares last traded at C$90.17, with a volume of 37,980 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cibc World Mkts raised BRP from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 1st. Royal Bank Of Canada raised their price objective on BRP from C$100.00 to C$107.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Canaccord Genuity Group lifted their target price on shares of BRP from C$108.00 to C$116.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. TD Securities upped their target price on shares of BRP from C$87.00 to C$107.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Finally, National Bankshares increased their target price on shares of BRP from C$83.00 to C$101.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 2nd. Two equities research 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. Based on data from MarketBeat, BRP currently has an average rating of “Moderate Buy” and an average target price of C$94.54.

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 stock has a 50 day simple moving average of C$89.93 and a two-hundred day simple moving average of C$73.78. The company has a market cap of C$6.59 billion, a price-to-earnings ratio of -180.34, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th were given a dividend of $0.215 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.86 annualized dividend and a dividend yield of 1.0%. BRP’s payout ratio is presently -170.00%.

BRP Company Profile

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.