BRP (TSE:DOO) Downgraded to Hold Rating by National Bank Financial

National Bank Financial cut shares of BRP (TSE:DOO) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Raymond James Financial decreased their target price on shares of BRP from C$117.00 to C$115.00 in a research note on Friday, March 27th. TD lowered shares of BRP from a “buy” rating to a “hold” rating and decreased their target price for the company from C$119.00 to C$84.00 in a research note on Wednesday. Desjardins lifted their target price on shares of BRP from C$130.00 to C$138.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Wells Fargo & Company lifted their target price on shares of BRP from C$105.00 to C$110.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. Finally, Citigroup decreased their target price on shares of BRP from C$128.00 to C$119.00 in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$111.20.

BRP Trading Down 35.4%

BRP stock opened at C$69.83 on Wednesday. The company has a 50 day moving average price of C$98.41 and a 200 day moving average price of C$97.78. BRP has a 52 week low of C$43.88 and a 52 week high of C$112.26. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27. The firm has a market capitalization of C$5.11 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 2.05 and a beta of 0.94.

BRP (TSE:DOO) last issued its earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share (EPS) for the quarter. The company had revenue of C$2.46 billion during the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. Research analysts forecast that BRP will post 6.890971 EPS for the current year.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 10th. BRP’s payout ratio is presently 21.77%.

Trending Headlines about BRP

Here are the key news stories impacting BRP this week:

• Positive Sentiment: Analysts’ revised price targets still imply meaningful upside versus the current price (Canaccord C$90, TD C$84), which could limit downside and support a recovery if operational results remain steady. Analyst Ratings Summary
• Neutral Sentiment: Recent fundamentals remain intact: Q1 report showed C$2.21 EPS and ~C$2.46B revenue; valuation metrics (P/E ~17.7) and long-term upside per analyst models may temper immediate downside. Market Data
• Negative Sentiment: Canaccord Genuity downgraded BRP from “buy” to “hold” and cut its price target to C$90 from C$118 — a materially lower endorsement that increases near-term selling pressure. BRP Downgraded to Hold by Canaccord
• Negative Sentiment: TD also downgraded BRP from “buy” to “hold” and reduced its target to C$84 from C$119, reinforcing the negative analyst momentum and contributing to weaker investor sentiment. BRP Downgraded to Hold by TD

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).