BRP (NASDAQ:DOO) Given New $75.00 Price Target at Citigroup

BRP (NASDAQ:DOO) had its target price trimmed by Citigroup from $86.00 to $75.00 in a research note released on Monday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently commented on the stock. TD Securities cut shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Seaport Research Partners cut shares of BRP from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. UBS Group increased their price objective on shares of BRP from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Wall Street Zen cut BRP from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company initiated coverage on BRP in a research report on Wednesday, March 11th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, BRP has an average rating of “Hold” and a consensus target price of $85.67.

BRP Stock Up 3.0%

Shares of DOO opened at $59.57 on Monday. The company has a quick ratio of 0.56, a current ratio of 1.27 and a debt-to-equity ratio of 3.92. BRP has a twelve month low of $31.78 and a twelve month high of $81.89. The company has a market cap of $4.37 billion, a PE ratio of 20.47 and a beta of 1.15. The business’s 50 day simple moving average is $70.49.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 10th will be paid a $0.25 dividend. This is a boost from BRP’s previous quarterly dividend of $0.07. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, April 10th. BRP’s dividend payout ratio (DPR) is 24.74%.

Institutional Trading of BRP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in BRP in the fourth quarter valued at $30,000. Signaturefd LLC bought a new position in shares of BRP in the 4th quarter valued at about $43,000. Quadrant Capital Group LLC acquired a new position in shares of BRP during the 4th quarter worth about $89,000. PNC Financial Services Group Inc. bought a new stake in shares of BRP in the 4th quarter valued at about $142,000. Finally, Intact Investment Management Inc. bought a new stake in shares of BRP in the 4th quarter valued at about $156,000.

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.