Brokerages Set BRP Inc. (NASDAQ:DOO) Target Price at $80.50

BRP Inc. (NASDAQ:DOO) has received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $80.50.

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of BRP in a research report on Monday, March 23rd. Zacks Research raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 27th. Citigroup cut their price objective on shares of BRP from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Monday. Wells Fargo & Company assumed coverage on shares of BRP in a research note on Wednesday, March 11th. They issued an “overweight” rating on the stock. Finally, UBS Group lifted their target price on shares of BRP from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, January 9th.

Institutional Investors Weigh In On BRP

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new position in BRP in the fourth quarter valued at about $207,651,000. Price T Rowe Associates Inc. MD acquired a new position in shares of BRP during the 4th quarter worth about $169,341,000. Capital World Investors acquired a new position in shares of BRP during the 4th quarter worth about $158,763,000. FIL Ltd bought a new stake in shares of BRP in the 4th quarter valued at about $123,110,000. Finally, Vanguard Group Inc. bought a new stake in shares of BRP in the 4th quarter valued at about $98,153,000.

BRP Stock Up 0.1%

Shares of DOO stock opened at $72.78 on Tuesday. The stock has a 50-day moving average price of $72.86. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.56 and a current ratio of 1.27. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 25.01 and a beta of 1.15. BRP has a 12 month low of $31.78 and a 12 month high of $81.89.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be given a $0.25 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. This is an increase from BRP’s previous quarterly dividend of $0.07. BRP’s dividend payout ratio is 21.65%.

BRP Company Profile

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.