BRP (NASDAQ:DOOO) Given New $68.00 Price Target at Citigroup

BRP (NASDAQ:DOOO) had its price objective raised by Citigroup from $51.00 to $68.00 in a report released on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on DOOO. Scotiabank restated a “sector perform” rating on shares of BRP in a report on Tuesday. Desjardins upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Royal Bank Of Canada reiterated an “outperform” rating on shares of BRP in a research note on Tuesday. CIBC upgraded shares of BRP from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday. Finally, TD Securities upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 30th. Four equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

BRP Price Performance

Shares of DOOO opened at $65.13 on Wednesday. BRP has a twelve month low of $31.78 and a twelve month high of $69.70. The firm’s fifty day simple moving average is $53.16 and its 200-day simple moving average is $43.86. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -271.38 and a beta of 1.19. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Friday, August 29th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Equities analysts forecast that BRP will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of BRP by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock worth $1,823,000 after acquiring an additional 293 shares during the period. Sagard Holdings Management Inc. acquired a new position in shares of BRP during the second quarter worth about $41,000. Jane Street Group LLC increased its stake in shares of BRP by 1.4% during the fourth quarter. Jane Street Group LLC now owns 65,470 shares of the company’s stock worth $3,333,000 after acquiring an additional 933 shares during the period. Geode Capital Management LLC increased its stake in shares of BRP by 1.9% during the second quarter. Geode Capital Management LLC now owns 50,692 shares of the company’s stock worth $2,463,000 after acquiring an additional 955 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of BRP during the second quarter worth about $60,000.

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.