BRP (TSE:DOO) Upgraded to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of BRP (TSE:DOO) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning,BayStreet.CA reports. The firm currently has C$108.00 target price on the stock, up from their prior target price of C$80.00.

Other equities research analysts have also recently issued reports about the stock. Stifel Canada raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 29th. Desjardins upgraded BRP from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 29th. Scotiabank lifted their price target on BRP from C$67.00 to C$98.00 and gave the stock a “sector perform” rating in a report on Tuesday. TD Securities upped their price objective on BRP from C$70.00 to C$87.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Citigroup increased their price objective on BRP from C$49.00 to C$60.00 in a report on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$91.69.

BRP Stock Up 6.3%

Shares of BRP stock opened at C$91.89 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 1.37 and a debt-to-equity ratio of 573.79. BRP has a 52-week low of C$43.88 and a 52-week high of C$97.49. The company has a market capitalization of C$6.71 billion, a P/E ratio of -183.78, a P/E/G ratio of 2.05 and a beta of 1.05. The company has a 50 day moving average of C$72.45 and a 200 day moving average of C$60.71.

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.