Brokerages Set BRP Inc. (NASDAQ:DOOO) Target Price at $79.60

Shares of BRP Inc. (NASDAQ:DOOO) have received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $79.60.

A number of brokerages recently issued reports on DOOO. Citigroup raised BRP from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $73.00 in a research report on Wednesday, October 1st. Royal Bank Of Canada boosted their price target on shares of BRP from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Wall Street Zen lowered shares of BRP from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BRP in a research report on Wednesday, October 8th. Finally, Loop Capital started coverage on BRP in a research report on Thursday, November 13th. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On BRP

Several large investors have recently added to or reduced their stakes in DOOO. Charles Schwab Investment Management Inc. grew its stake in shares of BRP by 10.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,158 shares of the company’s stock worth $3,685,000 after acquiring an additional 10,004 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in BRP by 31.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company’s stock valued at $2,193,000 after purchasing an additional 15,447 shares during the period. National Bank of Canada FI grew its stake in BRP by 20.0% during the 1st quarter. National Bank of Canada FI now owns 495,657 shares of the company’s stock worth $16,731,000 after purchasing an additional 82,723 shares in the last quarter. Invesco Ltd. grew its stake in BRP by 6.2% during the 1st quarter. Invesco Ltd. now owns 1,234,801 shares of the company’s stock worth $41,749,000 after purchasing an additional 71,544 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in BRP during the 1st quarter worth about $451,000.

BRP Price Performance

BRP stock opened at $69.41 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.55 and a debt-to-equity ratio of 5.54. The company has a 50-day moving average price of $65.05 and a 200 day moving average price of $56.61. BRP has a 12-month low of $31.78 and a 12-month high of $70.91. The stock has a market cap of $5.07 billion, a P/E ratio of -289.21 and a beta of 1.26.

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.