BRP Inc. (NASDAQ:DOO) Stock Has Consensus Target Price of $84.00 According to Analysts

Shares of BRP Inc. (NASDAQ:DOO) have earned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $84.00.

A number of equities research analysts recently issued reports on DOO shares. National Bank Financial upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 3rd. Weiss Ratings lowered shares of BRP from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. TD Securities raised shares of BRP from a “hold” rating to a “buy” rating in a research note on Tuesday, August 18th. Citigroup raised their price objective on shares of BRP from $74.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Finally, Wall Street Zen cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Capital LLC raised its position in BRP by 224.1% in the 2nd quarter. Walleye Capital LLC now owns 29,035 shares of the company’s stock valued at $1,772,000 after purchasing an additional 20,077 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in BRP by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock worth $14,805,000 after purchasing an additional 20,786 shares in the last quarter. VELA Investment Management LLC grew its holdings in shares of BRP by 60.7% during the second quarter. VELA Investment Management LLC now owns 45,333 shares of the company’s stock worth $2,766,000 after purchasing an additional 17,131 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of BRP by 324.1% during the first quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after purchasing an additional 116,189 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock worth $65,728,000 after purchasing an additional 23,055 shares during the last quarter.

BRP Price Performance

Shares of NASDAQ:DOO traded down $1.13 on Friday, hitting $54.70. The stock had a trading volume of 383,894 shares, compared to its average volume of 260,375. The firm’s 50 day moving average price is $60.04 and its 200-day moving average price is $60.52. The company has a debt-to-equity ratio of 7.31, a quick ratio of 0.52 and a current ratio of 1.19. BRP has a twelve month low of $48.83 and a twelve month high of $81.89. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 49.73 and a beta of 0.97.

BRP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Tuesday, September 29th were given a dividend of C$0.25 per share. The ex-dividend date was Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. BRP’s dividend payout ratio is 65.45%.

About BRP

BRP Inc, formerly known as Bombardier Recreational Products, is a Canadian company that designs, develops, manufactures, distributes and markets powersports vehicles, marine products, engines and related parts, accessories and apparel. The company serves recreational and commercial customers through a portfolio of products sold internationally.

BRP’s principal brands include Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am off-road and three-wheel vehicles, Alumacraft and Manitou boats, and Rotax engines.