BRP Inc. (NASDAQ:DOOO) Receives $111.75 Average PT from Analysts

Shares of BRP Inc. (NASDAQ:DOOO) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $111.75.

Several brokerages have recently commented on DOOO. TheStreet cut shares of BRP from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. CIBC lifted their target price on shares of BRP from $106.00 to $110.00 and gave the stock an “outperformer” rating in a report on Monday, April 1st. Desjardins increased their price target on BRP from $112.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Raymond James reduced their price target on BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. Beutel Goodman & Co Ltd. raised its position in shares of BRP by 13.3% during the second quarter. Beutel Goodman & Co Ltd. now owns 3,763,837 shares of the company’s stock worth $318,543,000 after purchasing an additional 440,782 shares during the period. Vanguard Group Inc. raised its holdings in BRP by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,282,737 shares of the company’s stock worth $97,308,000 after buying an additional 18,859 shares during the period. Westfield Capital Management Co. LP lifted its stake in BRP by 10.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,094,083 shares of the company’s stock valued at $82,997,000 after buying an additional 107,383 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of BRP by 0.7% in the third quarter. Invesco Ltd. now owns 930,298 shares of the company’s stock valued at $70,572,000 after buying an additional 6,117 shares during the period. Finally, Bank of America Corp DE increased its position in shares of BRP by 51.6% during the first quarter. Bank of America Corp DE now owns 734,279 shares of the company’s stock worth $57,421,000 after acquiring an additional 250,005 shares in the last quarter.

BRP Price Performance

Shares of DOOO stock opened at $72.84 on Thursday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 10.38 and a beta of 2.12. BRP has a 12 month low of $57.15 and a 12 month high of $92.74. The company has a quick ratio of 0.55, a current ratio of 1.41 and a debt-to-equity ratio of 3.32. The stock has a 50-day moving average price of $66.26 and a 200 day moving average price of $68.53.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a $0.1545 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, April 5th. BRP’s dividend payout ratio is currently 8.83%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.