Analysts Set BRP Inc. (NASDAQ:DOOO) PT at $97.00

Shares of BRP Inc. (NASDAQ:DOOO) have been assigned a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $97.00.

Several research analysts have issued reports on the company. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Cibc World Mkts downgraded BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, UBS Group decreased their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 13th.

Institutional Investors Weigh In On BRP

A number of institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of BRP by 350.0% in the third quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in BRP in the 3rd quarter worth about $72,000. DRW Securities LLC purchased a new stake in shares of BRP during the 3rd quarter worth about $161,000. Public Employees Retirement System of Ohio acquired a new stake in shares of BRP during the 3rd quarter valued at about $178,000. Finally, Lake Street Advisors Group LLC bought a new stake in shares of BRP in the 2nd quarter valued at approximately $201,000.

BRP Stock Up 0.4 %

NASDAQ DOOO opened at $51.71 on Tuesday. BRP has a 12 month low of $46.85 and a 12 month high of $75.59. The company has a market capitalization of $3.77 billion, a P/E ratio of 27.51 and a beta of 2.03. The company’s 50 day simple moving average is $51.58 and its 200 day simple moving average is $60.44. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.37.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.1485 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.15%. BRP’s dividend payout ratio is 32.98%.

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.