BRP (NASDAQ:DOOO) Price Target Raised to $110.00 at CIBC

BRP (NASDAQ:DOOOFree Report) had its price target increased by CIBC from $106.00 to $110.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an outperformer rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group cut shares of BRP from a buy rating to a neutral rating in a research report on Monday, December 4th. TheStreet cut shares of BRP from a b- rating to a c+ rating in a research report on Monday, February 26th. Finally, Raymond James lowered their price objective on shares of BRP from $114.00 to $108.00 and set a strong-buy rating for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BRP presently has a consensus rating of Moderate Buy and a consensus price target of $124.38.

Read Our Latest Research Report on DOOO

BRP Trading Up 7.6 %

Shares of BRP stock opened at $72.17 on Monday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 10.28 and a beta of 2.12. The company has a quick ratio of 0.41, a current ratio of 1.40 and a debt-to-equity ratio of 4.00. The company has a 50-day simple moving average of $65.23 and a 200 day simple moving average of $68.61. BRP has a 12-month low of $57.15 and a 12-month high of $92.74.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.1545 dividend. The ex-dividend date is Friday, April 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.86%. BRP’s dividend payout ratio (DPR) is presently 8.69%.

Institutional Trading of BRP

Hedge funds and other institutional investors have recently made changes to their positions in the business. Group One Trading L.P. acquired a new position in BRP during the first quarter worth $52,000. Power Corp of Canada acquired a new position in BRP during the first quarter worth $69,000. State of Wyoming increased its holdings in BRP by 126.5% during the fourth quarter. State of Wyoming now owns 845 shares of the company’s stock worth $65,000 after buying an additional 472 shares during the last quarter. Barclays PLC increased its holdings in BRP by 232.5% during the third quarter. Barclays PLC now owns 971 shares of the company’s stock worth $73,000 after buying an additional 679 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in BRP during the third quarter worth $93,000.

About BRP

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BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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