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

BRP Inc. (NASDAQ:DOOO) has received a consensus recommendation of “Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $133.09.

DOOO has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of BRP from C$122.00 to C$137.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 3rd. BMO Capital Markets raised shares of BRP from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $154.00 in a report on Tuesday, September 7th. Desjardins boosted their target price on shares of BRP from C$131.00 to C$150.00 and gave the company a “buy” rating in a research note on Tuesday, September 7th. Zacks Investment Research raised shares of BRP from a “sell” rating to a “hold” rating and set a $113.00 target price for the company in a research note on Monday, September 6th. Finally, BNP Paribas started coverage on shares of BRP in a research note on Monday, June 14th. They set an “outperform” rating and a $133.00 target price for the company.

A number of large investors have recently modified their holdings of DOOO. Mackenzie Financial Corp boosted its holdings in shares of BRP by 17.6% during the 2nd quarter. Mackenzie Financial Corp now owns 5,814,474 shares of the company’s stock worth $454,549,000 after buying an additional 868,626 shares during the period. FMR LLC boosted its holdings in BRP by 700.7% during the first quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after purchasing an additional 573,296 shares during the last quarter. Artemis Investment Management LLP increased its holdings in BRP by 11.2% in the 2nd quarter. Artemis Investment Management LLP now owns 646,653 shares of the company’s stock worth $50,717,000 after acquiring an additional 65,143 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in BRP by 13.8% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 618,185 shares of the company’s stock worth $53,625,000 after purchasing an additional 75,100 shares during the period. Finally, Morgan Stanley raised its holdings in shares of BRP by 40.6% during the 2nd quarter. Morgan Stanley now owns 547,611 shares of the company’s stock valued at $42,912,000 after buying an additional 158,122 shares in the last quarter. 28.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DOOO stock traded down $3.56 on Thursday, hitting $95.05. The stock had a trading volume of 45,183 shares, compared to its average volume of 97,247. The firm has a market capitalization of $7.67 billion, a P/E ratio of 11.69 and a beta of 3.00. BRP has a 1 year low of $46.90 and a 1 year high of $102.96. The company’s 50 day moving average price is $88.22 and its 200-day moving average price is $84.97.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Wednesday, September 1st. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $1.85. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. BRP had a negative return on equity of 209.67% and a net margin of 12.76%. The firm’s revenue was up 54.4% compared to the same quarter last year. Equities analysts forecast that BRP will post 7.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Thursday, September 30th will be given a $0.104 dividend. This represents a $0.42 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, September 29th. BRP’s dividend payout ratio (DPR) is currently 10.45%.

About BRP

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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