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

Shares of BRP Inc. (NASDAQ:DOOO) have been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $97.00.

A number of equities analysts have weighed in on DOOO shares. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research note on Sunday, September 8th. National Bank Financial downgraded BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. UBS Group cut their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Citigroup reduced their target price on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, September 9th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. US Bancorp DE boosted its holdings in BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after buying an additional 322 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock worth $228,000 after acquiring an additional 337 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of BRP by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after purchasing an additional 520 shares during the last quarter. Addenda Capital Inc. grew its position in BRP by 9.9% during the second quarter. Addenda Capital Inc. now owns 11,636 shares of the company’s stock valued at $745,000 after acquiring an additional 1,053 shares during the period. Finally, Spartan Fund Management Inc. acquired a new position in shares of BRP in the 3rd quarter valued at about $72,000.

BRP Trading Up 3.8 %

Shares of BRP stock opened at $53.39 on Tuesday. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP has a 52-week low of $46.85 and a 52-week high of $75.59. The stock has a market cap of $3.90 billion, a PE ratio of 28.40 and a beta of 2.03. The firm has a 50-day moving average of $52.10 and a 200-day moving average of $60.82.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, September 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.23. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. BRP had a return on equity of 58.01% and a net margin of 2.29%. As a group, sell-side analysts forecast that BRP will post 2.26 EPS for the current year.

BRP Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.1485 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.11%. BRP’s payout ratio is currently 32.98%.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.