Citigroup Raises BRP (NASDAQ:DOOO) Price Target to $80.00

BRP (NASDAQ:DOOO) had its target price increased by Citigroup from $73.00 to $80.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

DOOO has been the topic of several other research reports. Raymond James dropped their target price on BRP from $114.00 to $108.00 and set a strong-buy rating on the stock in a research report on Monday, April 1st. CIBC reduced their target price on BRP from $110.00 to $100.00 and set an outperformer rating for the company in a report on Monday, June 3rd. Finally, Desjardins increased their price target on shares of BRP from $112.00 to $137.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BRP currently has an average rating of Moderate Buy and a consensus target price of $122.75.

BRP Trading Down 1.8 %

Shares of DOOO opened at $69.33 on Tuesday. The firm has a market cap of $5.14 billion, a P/E ratio of 12.54 and a beta of 2.06. BRP has a fifty-two week low of $57.15 and a fifty-two week high of $92.74. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.46 and a current ratio of 1.35. The business has a 50-day moving average of $65.24 and a 200 day moving average of $66.64.

BRP (NASDAQ:DOOO) last posted its earnings results on Friday, May 31st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.49 billion. BRP had a net margin of 5.87% and a return on equity of 101.72%. As a group, research analysts forecast that BRP will post 4.49 EPS for the current year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a $0.152 dividend. This represents a $0.61 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, June 28th. BRP’s dividend payout ratio (DPR) is 11.03%.

Hedge Funds Weigh In On BRP

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd lifted its holdings in shares of BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Scotia Capital Inc. lifted its stake in BRP by 1.5% during the fourth quarter. Scotia Capital Inc. now owns 22,246 shares of the company’s stock worth $1,588,000 after purchasing an additional 318 shares during the last quarter. Addenda Capital Inc. boosted its holdings in shares of BRP by 5.3% in the 1st quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock worth $710,000 after purchasing an additional 528 shares in the last quarter. Trivant Custom Portfolio Group LLC bought a new position in shares of BRP during the 1st quarter valued at about $50,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of BRP by 0.8% during the 4th quarter. 1832 Asset Management L.P. now owns 98,871 shares of the company’s stock valued at $7,088,000 after buying an additional 758 shares in the last quarter.

BRP Company Profile

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.