BRP (TSE:DOO) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Shares of BRP Inc. (TSE:DOO) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$96.03 and traded as low as C$76.30. BRP shares last traded at C$76.62, with a volume of 228,879 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on DOO shares. Canaccord Genuity Group lowered BRP from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Scotia cut their price target on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 16th. National Bank Financial cut shares of BRP from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$125.00 to C$80.00 in a research report on Wednesday, April 15th. Citigroup lowered their price objective on shares of BRP from C$119.00 to C$102.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Desjardins dropped their price objective on shares of BRP from C$138.00 to C$97.00 and set a “buy” rating for the company in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, BRP presently has an average rating of “Moderate Buy” and an average target price of C$105.20.

BRP Stock Performance

The firm has a market capitalization of C$5.65 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.05 and a beta of 1.03. The firm has a 50 day moving average price of C$88.14 and a 200-day moving average price of C$96.03. 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 released its earnings results on Thursday, March 26th. The company reported C$2.21 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. As a group, sell-side analysts expect that BRP Inc. will post 6.890971 earnings per share for the current fiscal year.

BRP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. BRP’s payout ratio is currently 21.77%.

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).