Stifel Canada Upgrades BRP (NASDAQ:DOOO) to “Strong-Buy”

BRP (NASDAQ:DOOO) was upgraded by Stifel Canada from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages also recently commented on DOOO. Citigroup raised shares of BRP from a “sell” rating to a “neutral” rating and increased their price objective for the company from $27.00 to $37.00 in a research report on Friday, April 4th. Desjardins raised shares of BRP from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James reissued a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. TD Securities raised shares of BRP from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Baird R W downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.75.

BRP Price Performance

Shares of DOOO opened at $44.26 on Thursday. BRP has a fifty-two week low of $31.78 and a fifty-two week high of $74.00. The firm’s 50 day moving average price is $35.51 and its 200 day moving average price is $42.88. The company has a market cap of $3.23 billion, a P/E ratio of 23.54 and a beta of 1.17. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last announced its earnings results on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a net margin of 2.29% and a return on equity of 61.20%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, research analysts forecast that BRP will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BRP

Several large investors have recently bought and sold shares of the stock. Turtle Creek Asset Management Inc. boosted its stake in BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after acquiring an additional 668,607 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in BRP by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,744,879 shares of the company’s stock worth $92,805,000 after purchasing an additional 346,114 shares during the last quarter. Capital World Investors grew its position in BRP by 101.2% during the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock worth $100,386,000 after purchasing an additional 991,392 shares during the last quarter. Mackenzie Financial Corp grew its position in BRP by 15.0% during the 1st quarter. Mackenzie Financial Corp now owns 1,884,728 shares of the company’s stock worth $63,636,000 after purchasing an additional 245,463 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in BRP by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company’s stock worth $77,223,000 after purchasing an additional 288,004 shares during the last quarter.

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.