BRP Inc. (NASDAQ:DOOO) Given Average Recommendation of “Buy” by Brokerages

Shares of BRP Inc. (NASDAQ:DOOO – Get Rating) have been given an average recommendation of “Buy” by the eighteen brokerages that are covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $131.81.

A number of brokerages have weighed in on DOOO. National Bank Financial raised their price objective on BRP from C$124.00 to C$136.00 in a research note on Monday, March 28th. Canaccord Genuity Group lifted their target price on BRP from C$130.00 to C$136.00 in a research report on Monday, March 28th. Raymond James lifted their target price on BRP from C$137.00 to C$146.00 in a research report on Sunday, March 27th. Desjardins lifted their target price on BRP from C$150.00 to C$154.00 in a research report on Tuesday, March 29th. Finally, Robert W. Baird assumed coverage on BRP in a research report on Monday, March 28th. They issued a “buy” rating and a $104.00 target price for the company.

Institutional investors have recently made changes to their positions in the business. Addenda Capital Inc. raised its stake in BRP by 11.9% during the 4th quarter. Addenda Capital Inc. now owns 5,858 shares of the company’s stock valued at $650,000 after acquiring an additional 625 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of BRP by 5.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 44,452 shares of the company’s stock worth $4,114,000 after buying an additional 2,430 shares in the last quarter. Pembroke Management LTD raised its stake in shares of BRP by 0.7% in the 3rd quarter. Pembroke Management LTD now owns 288,481 shares of the company’s stock worth $33,822,000 after buying an additional 2,077 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of BRP in the 3rd quarter worth $202,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of BRP in the 4th quarter worth $283,000. 53.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:DOOO opened at $81.54 on Monday. The stock has a market cap of $6.69 billion, a P/E ratio of 11.03 and a beta of 2.71. BRP has a one year low of $57.38 and a one year high of $102.96. The company’s 50-day moving average is $74.51.

BRP (NASDAQ:DOOO – Get Rating) last issued its quarterly earnings data on Friday, March 25th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $1.03. BRP had a negative return on equity of 326.52% and a net margin of 10.39%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm earned $1.40 EPS. BRP’s quarterly revenue was up 29.3% on a year-over-year basis. Research analysts forecast that BRP will post 8.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 18th. Shareholders of record on Monday, April 4th will be paid a dividend of $0.126 per share. The ex-dividend date is Friday, April 1st. This represents a $0.50 annualized dividend and a yield of 0.62%. This is an increase from BRP’s previous quarterly dividend of $0.10. BRP’s payout ratio is presently 6.90%.

About BRP (Get Rating)

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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