BRP (NASDAQ:DOO) Trading Up 1.8% – Time to Buy?

BRP Inc. (NASDAQ:DOO)’s stock price shot up 1.8% during mid-day trading on Friday . The company traded as high as $78.83 and last traded at $77.85. 77,586 shares changed hands during trading, a decline of 47% from the average session volume of 146,093 shares. The stock had previously closed at $76.47.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOO. UBS Group increased their price objective on BRP from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BRP in a research report on Wednesday, December 24th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.00.

BRP Stock Performance

The company has a market capitalization of $5.71 billion, a P/E ratio of 210.41 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 0.49 and a debt-to-equity ratio of 4.31.

BRP Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.1571 per share. The ex-dividend date was Wednesday, December 31st. BRP’s dividend payout ratio (DPR) is 170.27%.

Institutional Trading of BRP

Large investors have recently made changes to their positions in the stock. QV Investors Inc. bought a new position in shares of BRP in the 4th quarter valued at approximately $31,701,000. Signaturefd LLC bought a new stake in BRP during the fourth quarter worth approximately $43,000. Addenda Capital Inc. acquired a new position in BRP during the fourth quarter valued at approximately $1,170,000. Annex Advisory Services LLC bought a new position in shares of BRP in the fourth quarter valued at approximately $279,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of BRP in the fourth quarter worth $751,000.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.