BRP (NASDAQ:DOOO) Shares Up 6.1% on Analyst Upgrade

BRP Inc. (NASDAQ:DOOOGet Free Report)’s share price traded up 6.1% on Monday after CIBC raised their price target on the stock from $106.00 to $110.00. CIBC currently has an outperformer rating on the stock. BRP traded as high as $71.38 and last traded at $71.22. 61,384 shares traded hands during trading, a decline of 54% from the average session volume of 134,195 shares. The stock had previously closed at $67.10.

Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of BRP from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Raymond James dropped their price target on shares of BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research note on Monday. Finally, UBS Group cut shares of BRP from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.38.

Read Our Latest Report on BRP

Institutional Trading of BRP

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Beutel Goodman & Co Ltd. increased its holdings in BRP by 13.3% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,763,837 shares of the company’s stock valued at $318,543,000 after acquiring an additional 440,782 shares during the last quarter. Vanguard Group Inc. increased its holdings in BRP by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,282,737 shares of the company’s stock valued at $97,308,000 after acquiring an additional 18,859 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in BRP by 10.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,094,083 shares of the company’s stock valued at $82,997,000 after acquiring an additional 107,383 shares during the last quarter. Invesco Ltd. increased its holdings in BRP by 0.7% in the 3rd quarter. Invesco Ltd. now owns 930,298 shares of the company’s stock valued at $70,572,000 after acquiring an additional 6,117 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in BRP by 51.6% in the 1st quarter. Bank of America Corp DE now owns 734,279 shares of the company’s stock valued at $57,421,000 after acquiring an additional 250,005 shares during the last quarter.

BRP Stock Performance

The business’s fifty day moving average price is $65.23 and its two-hundred day moving average price is $68.61. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.41 and a current ratio of 1.40. The stock has a market capitalization of $5.47 billion, a P/E ratio of 10.28 and a beta of 2.12.

BRP Dividend Announcement

The firm also recently announced 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%.

About BRP

(Get Free Report)

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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