BRP (TSE:DOO) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

BRP Inc. (TSE:DOO) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$92.21 and traded as low as C$83.49. BRP shares last traded at C$83.62, with a volume of 448,360 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DOO. Scotia decreased their price target on BRP from C$117.00 to C$80.00 and set a “sector perform” rating on the stock in a report on Thursday, April 16th. Canaccord Genuity Group cut shares of BRP from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Scotiabank lifted their price objective on BRP from C$80.00 to C$83.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Seaport Research Partners lowered BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, National Bank Financial raised their target price on BRP from C$80.00 to C$84.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BRP has an average rating of “Moderate Buy” and an average target price of C$98.73.

BRP Trading Up 0.5%

The stock has a market cap of C$6.13 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 2.05 and a beta of 0.83. The business has a 50-day simple moving average of C$81.61 and a two-hundred day simple moving average of C$92.21. The company has a debt-to-equity ratio of 419.45, a quick ratio of 0.20 and a current ratio of 1.30.

BRP (TSE:DOO) last issued its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a return on equity of 46.01% and a net margin of 3.01%.The firm had revenue of C$2.39 billion during the quarter. As a group, research analysts forecast that BRP Inc. will post 6.890971 EPS for the current year.

BRP Company Profile

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).