BRP (NASDAQ:DOO) Given New $86.00 Price Target at Citigroup

BRP (NASDAQ:DOO) had its target price lowered by Citigroup from $87.00 to $86.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of BRP in a report on Monday, March 23rd. UBS Group upped their price objective on shares of BRP from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Finally, Wells Fargo & Company started coverage on BRP in a research note on Wednesday, March 11th. They issued an “overweight” rating on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.50.

BRP Stock Up 3.3%

Shares of NASDAQ DOO opened at $68.44 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 3.92. BRP has a 52 week low of $31.78 and a 52 week high of $81.89. The business has a fifty day moving average price of $73.23. The stock has a market capitalization of $5.02 billion, a P/E ratio of 23.52 and a beta of 1.22.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 10th. This is a positive change from BRP’s previous quarterly dividend of $0.07. BRP’s payout ratio is presently 21.65%.

Hedge Funds Weigh In On BRP

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in BRP in the fourth quarter worth about $30,000. Signaturefd LLC bought a new stake in BRP during the 4th quarter valued at approximately $43,000. Quadrant Capital Group LLC bought a new stake in BRP during the 4th quarter valued at approximately $89,000. PNC Financial Services Group Inc. purchased a new position in shares of BRP during the 4th quarter worth approximately $142,000. Finally, Intact Investment Management Inc. purchased a new position in shares of BRP during the 4th quarter worth approximately $156,000.

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.