BRP (TSE:DOO) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

BRP Inc. (TSE:DOO) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$99.34 and traded as high as C$101.93. BRP shares last traded at C$101.87, with a volume of 476,649 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOO. BMO Capital Markets lifted their target price on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Wells Fargo & Company lifted their target price on shares of BRP from C$105.00 to C$110.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Desjardins boosted their price target on shares of BRP from C$130.00 to C$138.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Raymond James Financial lowered their price target on shares of BRP from C$117.00 to C$115.00 in a research report on Friday, March 27th. Finally, Ci Capital lowered their price target on shares of BRP from C$128.00 to C$119.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$115.14.

BRP Stock Performance

The firm’s 50-day moving average price is C$99.34 and its two-hundred day moving average price is C$97.11. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27. The stock has a market cap of C$7.45 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 2.05 and a beta of 0.94.

BRP (TSE:DOO) last announced its quarterly earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share for the quarter. The firm had revenue of C$2.46 billion for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. On average, analysts expect that BRP Inc. will post 6.890971 EPS for the current fiscal year.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, April 24th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. BRP’s dividend payout ratio is presently 18.53%.

BRP Company Profile

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).