BRP (TSE:DOO) Downgraded to Hold Rating by Canaccord Genuity Group

BRP (TSE:DOO) was downgraded by investment analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They currently have a C$90.00 price target on the stock, down from their previous price target of C$118.00. Canaccord Genuity Group’s target price suggests a potential upside of 28.77% from the company’s previous close.

Several other brokerages have also recently weighed in on DOO. Royal Bank Of Canada lowered their target price on BRP from C$131.00 to C$124.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Citigroup cut their price target on BRP from C$128.00 to C$119.00 in a research note on Monday, March 30th. Desjardins upped their price objective on shares of BRP from C$130.00 to C$138.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Raymond James Financial dropped their target price on shares of BRP from C$117.00 to C$115.00 in a report on Friday, March 27th. Finally, BMO Capital Markets raised their target price on shares of BRP from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, BRP presently has a consensus rating of “Moderate Buy” and an average price target of C$111.20.

BRP Trading Down 35.3%

Shares of TSE:DOO traded down C$38.15 during trading on Wednesday, reaching C$69.89. 1,405,911 shares of the company were exchanged, compared to its average volume of 253,784. The business’s fifty day simple moving average is C$99.20 and its 200-day simple moving average is C$97.98. 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 has a 12-month low of C$43.88 and a 12-month high of C$112.26. The firm has a market capitalization of C$5.11 billion, a PE ratio of 17.69, a P/E/G ratio of 2.05 and a beta of 0.94.

BRP (TSE:DOO) last announced its quarterly earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share (EPS) 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 during the quarter. On average, research analysts anticipate that BRP will post 6.890971 EPS for the current year.

BRP Company Profile

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).