BRP Inc. (NASDAQ:DOOO) Receives $97.00 Consensus Price Target from Analysts

Shares of BRP Inc. (NASDAQ:DOOO) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $97.00.

A number of brokerages have recently commented on DOOO. National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Citigroup lowered their price target on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Scotiabank cut shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. Cibc World Mkts lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DOOO. The Manufacturers Life Insurance Company increased its position in shares of BRP by 61.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after purchasing an additional 408,692 shares during the period. American Century Companies Inc. increased its holdings in BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after buying an additional 335,715 shares during the period. Franklin Resources Inc. raised its stake in shares of BRP by 41.5% in the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock valued at $43,461,000 after buying an additional 214,626 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of BRP by 297.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 173,884 shares of the company’s stock worth $11,160,000 after acquiring an additional 130,131 shares during the period. Finally, CIBC Asset Management Inc increased its stake in BRP by 154.5% in the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after acquiring an additional 70,819 shares during the period.

BRP Trading Up 0.4 %

BRP stock opened at $51.71 on Tuesday. BRP has a one year low of $46.85 and a one year high of $75.59. The company’s fifty day moving average price is $51.58 and its two-hundred day moving average price is $60.44. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 27.51 and a beta of 2.03. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.37.

BRP Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.1485 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 31st. BRP’s dividend payout ratio (DPR) is presently 32.98%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.