BRP (NASDAQ:DOOO) Cut to Hold at Zacks Research

Zacks Research lowered shares of BRP (NASDAQ:DOOO) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of BRP in a research note on Wednesday, October 8th. CIBC upgraded BRP from a “neutral” rating to a “sector outperform” rating in a research note on Tuesday, September 2nd. National Bankshares set a $105.00 price objective on BRP and gave the company a “sector perform” rating in a report on Tuesday, September 2nd. TD Securities reaffirmed a “buy” rating on shares of BRP in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada increased their target price on BRP from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BRP currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.60.

BRP Price Performance

Shares of DOOO stock opened at $64.81 on Monday. The business has a fifty day simple moving average of $64.53 and a 200 day simple moving average of $53.44. The company has a market cap of $4.73 billion, a P/E ratio of -270.04 and a beta of 1.21. The company has a quick ratio of 0.55, a current ratio of 1.34 and a debt-to-equity ratio of 5.54. BRP has a twelve month low of $31.78 and a twelve month high of $68.45.

BRP (NASDAQ:DOOO) last released its earnings results on Friday, August 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.34. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.77 billion. BRP had a positive return on equity of 61.26% and a negative net margin of 0.34%. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. On average, sell-side 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 was paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.3%. This is an increase from BRP’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 30th. BRP’s payout ratio is currently -258.33%.

Institutional Investors Weigh In On BRP

Several institutional investors and hedge funds have recently made changes to their positions in DOOO. Mackenzie Financial Corp increased its holdings in BRP by 51.1% in the second quarter. Mackenzie Financial Corp now owns 2,847,424 shares of the company’s stock worth $138,302,000 after purchasing an additional 962,696 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of BRP by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,744,879 shares of the company’s stock worth $92,805,000 after buying an additional 346,114 shares in the last quarter. Vanguard Group Inc. grew its position in shares of BRP by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,372,256 shares of the company’s stock worth $83,437,000 after buying an additional 102,269 shares during the period. Invesco Ltd. increased its stake in shares of BRP by 6.8% in the 2nd quarter. Invesco Ltd. now owns 1,318,418 shares of the company’s stock valued at $63,904,000 after acquiring an additional 83,617 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of BRP by 144.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company’s stock valued at $24,460,000 after acquiring an additional 427,434 shares during the period.

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.