Citigroup Cuts BRP (TSE:DOO) Price Target to C$119.00

BRP (TSE:DOO) had its target price reduced by research analysts at Citigroup from C$128.00 to C$119.00 in a report issued on Monday,BayStreet.CA reports. Citigroup’s price objective would suggest a potential upside of 23.73% from the stock’s previous close.

Other analysts have also issued research reports about the company. Scotiabank increased their target price on BRP from C$102.00 to C$117.00 and gave the stock a “sector perform” rating in a research note on Friday, December 5th. Desjardins upped their price target on shares of BRP from C$130.00 to C$138.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets raised their price target on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday. National Bank Financial raised shares of BRP from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$105.00 to C$125.00 in a research report on Friday, December 5th. Finally, Canaccord Genuity Group upped their target price on shares of BRP from C$116.00 to C$118.00 in a research note on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$115.14.

BRP Trading Up 4.7%

Shares of TSE:DOO traded up C$4.35 during trading hours on Monday, hitting C$96.18. 199,745 shares of the company’s stock traded hands, compared to its average volume of 218,088. The firm has a market capitalization of C$7.03 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The business has a fifty day moving average price of C$100.39 and a 200-day moving average price of C$96.63. BRP has a 1 year low of C$43.88 and a 1 year high of C$112.26. The company has a debt-to-equity ratio of 443.59, a current ratio of 1.27 and a quick ratio of 0.20.

BRP (TSE:DOO) last issued its quarterly earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share for the quarter. BRP had a return on equity of 54.95% and a net margin of 3.45%.The firm had revenue of C$2.46 billion for the quarter. Equities analysts expect that BRP will post 6.890971 earnings per share for the current year.

About BRP

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. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).