BRP (NASDAQ:DOOO) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of BRP (NASDAQ:DOOO) from a neutral rating to a sector outperform rating in a research note issued to investors on Tuesday morning, Marketbeat reports.

Several other research firms have also recently issued reports on DOOO. Desjardins raised shares of BRP from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Stifel Canada upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 29th. TD Securities upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 30th. Wall Street Zen upgraded shares of BRP from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Canaccord Genuity Group upgraded shares of BRP from a “hold” rating to a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

BRP Price Performance

DOOO opened at $66.71 on Tuesday. The company’s 50 day simple moving average is $52.81 and its 200 day simple moving average 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 1 year low of $31.78 and a 1 year high of $72.21. The stock has a market capitalization of $4.87 billion, a PE ratio of -277.96 and a beta of 1.19.

BRP (NASDAQ:DOOO) last released its earnings results on Friday, August 29th. The company reported $0.67 earnings per share (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 business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. As a group, sell-side analysts expect that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from BRP’s previous quarterly dividend of $0.16. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.3%. BRP’s dividend payout ratio is presently -262.50%.

Institutional Trading of BRP

Several institutional investors have recently added to or reduced their stakes in DOOO. Raymond James Financial Inc. acquired a new stake in BRP in the fourth quarter valued at $916,000. Barclays PLC raised its holdings in BRP by 529.1% in the fourth quarter. Barclays PLC now owns 8,707 shares of the company’s stock valued at $443,000 after acquiring an additional 7,323 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in BRP by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,554 shares of the company’s stock valued at $8,727,000 after acquiring an additional 24,171 shares in the last quarter. Jane Street Group LLC raised its holdings in BRP by 1.4% in the fourth quarter. Jane Street Group LLC now owns 65,470 shares of the company’s stock valued at $3,333,000 after acquiring an additional 933 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in BRP by 45.0% in the fourth quarter. Millennium Management LLC now owns 16,339 shares of the company’s stock valued at $832,000 after acquiring an additional 5,072 shares in the last quarter.

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.