BRP (NASDAQ:DOOO) Price Target Raised to $51.00

BRP (NASDAQ:DOOO) had its price target boosted by equities researchers at Citigroup from $43.00 to $51.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 5.50% from the company’s current price.

Several other equities analysts have also recently weighed in on DOOO. Robert W. Baird restated a “neutral” rating and set a $43.00 price target (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. UBS Group cut their target price on shares of BRP from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Raymond James reaffirmed a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. Baird R W cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Wall Street Zen upgraded shares of BRP from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

BRP Price Performance

Shares of DOOO stock traded up $0.45 during mid-day trading on Monday, hitting $48.34. The company had a trading volume of 4,341 shares, compared to its average volume of 167,710. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The stock’s 50 day moving average price is $37.88 and its 200-day moving average price is $42.72. BRP has a 52-week low of $31.78 and a 52-week high of $74.00. The company has a market capitalization of $3.53 billion, a P/E ratio of 25.60 and a beta of 1.23.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. Equities research analysts forecast that BRP will post 3.15 earnings per share for the current year.

Institutional Trading of BRP

A number of large investors have recently made changes to their positions in the stock. Turtle Creek Asset Management Inc. boosted its position in BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after buying an additional 668,607 shares during the period. Price T Rowe Associates Inc. MD increased its holdings 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 period. Capital World Investors raised 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 valued at $100,386,000 after purchasing an additional 991,392 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of BRP by 15.0% in the 1st quarter. Mackenzie Financial Corp now owns 1,884,728 shares of the company’s stock worth $63,636,000 after buying an additional 245,463 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of 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 buying an additional 288,004 shares in 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.