BRP (NASDAQ:DOOO) Rating Increased to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of BRP (NASDAQ:DOOO) from a hold rating to a buy rating in a research report released on Tuesday morning, Marketbeat.com reports.

Several other brokerages have also commented on DOOO. Citigroup restated a “neutral” rating and issued a $51.00 price objective (up from $43.00) on shares of BRP in a report on Monday, June 16th. Wall Street Zen upgraded shares of BRP from a “buy” rating to a “strong-buy” rating in a report on Saturday. TD Securities upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Friday, May 30th. Stifel Canada upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 29th. Finally, Desjardins upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, BRP currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

BRP Stock Performance

Shares of DOOO stock opened at $66.71 on Tuesday. The firm’s 50 day moving average price is $52.81 and its 200-day moving average price is $43.71. The company has a debt-to-equity ratio of 5.85, a quick ratio of 0.58 and a current ratio of 1.34. BRP has a one year low of $31.78 and a one year high of $72.21. The firm has a market cap of $4.87 billion, a P/E ratio of -277.96 and a beta of 1.19.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Friday, August 29th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.33 by $0.34. BRP had a negative net margin of 0.34% and a positive return on equity of 64.24%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. As a group, equities research analysts predict that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.215 per share. This is a boost from BRP’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 30th. This represents a $0.86 dividend on an annualized basis and a yield of 1.3%. BRP’s dividend payout ratio (DPR) is currently -262.50%.

Institutional Investors Weigh In On BRP

A number of large investors have recently modified their holdings of DOOO. Mackenzie Financial Corp increased its position in shares of BRP by 51.1% in the 2nd quarter. Mackenzie Financial Corp now owns 2,847,424 shares of the company’s stock valued at $138,302,000 after purchasing an additional 962,696 shares during the last quarter. Turtle Creek Asset Management Inc. increased its position in shares of BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after purchasing an additional 668,607 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of BRP by 144.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company’s stock valued at $24,460,000 after purchasing an additional 427,434 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of BRP by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,744,879 shares of the company’s stock valued at $92,805,000 after purchasing an additional 346,114 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of BRP by 696.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 291,203 shares of the company’s stock valued at $14,144,000 after purchasing an additional 254,627 shares during the last quarter.

BRP Company Profile

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.