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

Shares of BRP Inc. (NASDAQ:DOOO) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $97.00.

A number of analysts have commented on the stock. National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Citigroup lowered their price target on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Scotiabank downgraded BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th.

Hedge Funds Weigh In On BRP

Several hedge funds have recently bought and sold shares of DOOO. Sei Investments Co. bought a new position in BRP in the first quarter valued at approximately $5,376,000. Shell Asset Management Co. increased its stake in shares of BRP by 160.2% in the 1st quarter. Shell Asset Management Co. now owns 17,795 shares of the company’s stock valued at $1,196,000 after purchasing an additional 10,957 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of BRP by 23.9% during the 1st quarter. 1832 Asset Management L.P. now owns 122,549 shares of the company’s stock worth $8,223,000 after buying an additional 23,678 shares in the last quarter. National Bank of Canada FI lifted its position in shares of BRP by 17.6% during the 1st quarter. National Bank of Canada FI now owns 422,358 shares of the company’s stock worth $29,664,000 after buying an additional 63,060 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in BRP by 35.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock valued at $50,975,000 after buying an additional 184,313 shares in the last quarter.

BRP Stock Down 2.2 %

Shares of DOOO opened at $59.54 on Thursday. The business’s fifty day moving average price is $66.30 and its two-hundred day moving average price is $66.56. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 10.77 and a beta of 2.07. BRP has a 52 week low of $57.15 and a 52 week high of $79.40.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.152 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 1.02%. BRP’s dividend payout ratio is 11.21%.

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.