BRP Inc. (NASDAQ:DOOO) Receives $111.75 Consensus Target Price from Brokerages

BRP Inc. (NASDAQ:DOOO) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $111.75.

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

BRP Stock Performance

Shares of BRP stock opened at $72.84 on Thursday. The company has a market cap of $5.52 billion, a PE ratio of 10.38 and a beta of 2.12. The company has a quick ratio of 0.55, a current ratio of 1.41 and a debt-to-equity ratio of 3.32. BRP has a 52 week low of $57.15 and a 52 week high of $92.74. The business has a 50 day moving average price of $66.26 and a 200-day moving average price of $68.53.

BRP Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DOOO. PNC Financial Services Group Inc. grew its holdings in BRP by 11.0% during the first quarter. PNC Financial Services Group Inc. now owns 5,640 shares of the company’s stock valued at $462,000 after purchasing an additional 560 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of BRP by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,914 shares of the company’s stock worth $1,056,000 after acquiring an additional 583 shares during the period. Moors & Cabot Inc. increased its holdings in BRP by 8.2% in the 1st quarter. Moors & Cabot Inc. now owns 2,638 shares of the company’s stock worth $216,000 after acquiring an additional 200 shares during the last quarter. Vanguard Group Inc. increased its holdings in BRP by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 1,200,665 shares of the company’s stock worth $98,202,000 after acquiring an additional 30,978 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in BRP in the 1st quarter valued at about $425,000.

BRP Company Profile

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.