BRP Inc. (NASDAQ:DOO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of BRP Inc. (NASDAQ:DOO) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $84.00.

Several equities research analysts recently issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of BRP in a research report on Friday, September 4th. National Bank Financial raised shares of BRP from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 3rd. UBS Group cut their price target on shares of BRP from $78.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Zacks Research upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Finally, TD Securities raised shares of BRP from a “hold” rating to a “buy” rating in a research note on Tuesday, August 18th.

Institutional Investors Weigh In On BRP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors acquired a new position in shares of BRP in the 4th quarter valued at about $158,763,000. The Manufacturers Life Insurance Company raised its holdings in BRP by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock valued at $65,728,000 after buying an additional 23,055 shares during the period. CIBC Asset Management Inc purchased a new position in BRP in the fourth quarter valued at approximately $23,758,000. TD Asset Management Inc acquired a new position in BRP during the fourth quarter valued at approximately $17,431,000. Finally, Dimensional Fund Advisors LP lifted its position in BRP by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock valued at $14,805,000 after buying an additional 20,786 shares in the last quarter.

BRP Price Performance

Shares of NASDAQ:DOO opened at $56.67 on Tuesday. The company has a market cap of $4.03 billion, a P/E ratio of 51.52 and a beta of 0.88. The business has a fifty day simple moving average of $62.12 and a 200-day simple moving average of $61.43. BRP has a 52 week low of $48.83 and a 52 week high of $81.89. The company has a quick ratio of 0.52, a current ratio of 1.19 and a debt-to-equity ratio of 7.31.

BRP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 29th will be given a dividend of C$0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 29th. BRP’s payout ratio is 63.64%.

About BRP

BRP Inc is a Canadian manufacturer of powersports and recreational products. The company develops, manufactures, distributes and sells vehicles and related products through a portfolio of well-known brands, including Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am on-road and off-road vehicles, and Rotax engines and propulsion systems.

BRP also offers marine products through its boat brands, including Alumacraft, Manitou and Quintrex. Its product portfolio is supported by parts, accessories, apparel and other services designed to complement its vehicles and recreational equipment.

The company traces its origins to 1942, when Joseph-Armand Bombardier founded the business that developed the first Ski-Doo snowmobile.