BRP (TSE:DOO) Stock Passes Below 200-Day Moving Average – What’s Next?

BRP Inc. (TSE:DOO)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$96.74 and traded as low as C$86.33. BRP shares last traded at C$86.97, with a volume of 146,559 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on DOO. Royal Bank Of Canada upped their price objective on shares of BRP from C$107.00 to C$131.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Desjardins upped their target price on BRP from C$117.00 to C$130.00 and gave the company a “buy” rating in a report on Friday, December 5th. Stifel Nicolaus increased their price target on BRP from C$106.00 to C$120.00 and gave the company a “buy” rating in a research report on Friday, December 5th. National Bank Financial upgraded BRP from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$105.00 to C$125.00 in a report on Friday, December 5th. Finally, Scotiabank boosted their price objective on BRP from C$102.00 to C$117.00 and gave the stock a “sector perform” rating in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BRP presently has an average rating of “Buy” and a consensus target price of C$111.33.

BRP Stock Performance

The company has a 50-day moving average price of C$102.82 and a two-hundred day moving average price of C$96.74. The company has a quick ratio of 0.20, a current ratio of 1.23 and a debt-to-equity ratio of 489.75. The stock has a market capitalization of C$6.38 billion, a P/E ratio of 263.55, a PEG ratio of 2.05 and a beta of 1.15.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).