Royal Bank Of Canada Cuts BRP (NASDAQ:DOO) Price Target to $107.00

BRP (NASDAQ:DOO) had its price target decreased by Royal Bank Of Canada from $124.00 to $107.00 in a research note released on Monday morning, MarketBeat reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 15th. Wells Fargo & Company assumed coverage on shares of BRP in a research report on Wednesday, March 11th. They issued an “overweight” rating on the stock. TD Securities downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. UBS Group raised their target price on shares of BRP from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Finally, Seaport Research Partners cut shares of BRP from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.67.

BRP Stock Down 5.3%

Shares of NASDAQ:DOO opened at $56.49 on Monday. The company has a market cap of $4.14 billion, a P/E ratio of 19.41 and a beta of 1.15. The firm has a 50-day moving average price of $69.65. BRP has a fifty-two week low of $32.54 and a fifty-two week high of $81.89. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.56 and a current ratio of 1.27.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 10th will be issued a dividend of $0.25 per share. This is an increase from BRP’s previous quarterly dividend of $0.07. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, April 10th. BRP’s dividend payout ratio is 24.74%.

Institutional Trading of BRP

Several institutional investors have recently made changes to their positions in DOO. Quarry LP acquired a new stake in BRP in the fourth quarter valued at approximately $30,000. Signaturefd LLC bought a new position in shares of BRP in the fourth quarter valued at approximately $43,000. Quadrant Capital Group LLC bought a new position in shares of BRP in the fourth quarter valued at approximately $89,000. PNC Financial Services Group Inc. bought a new position in shares of BRP in the fourth quarter valued at approximately $142,000. Finally, Intact Investment Management Inc. bought a new position in shares of BRP in the fourth quarter valued at approximately $156,000.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three?wheel on?road vehicles.