Brokerages Set BRP Inc. (NASDAQ:DOOO) PT at $38.33

BRP Inc. (NASDAQ:DOOO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.33.

Several equities research analysts have recently weighed in on the stock. TD Securities upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and upped their price target for the company from $27.00 to $37.00 in a research report on Friday, April 4th. UBS Group lowered their price objective on BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised BRP from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Stifel Canada raised BRP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 29th.

Hedge Funds Weigh In On BRP

A number of institutional investors and hedge funds have recently made changes to their positions in DOOO. Quadrant Capital Group LLC increased its position in BRP by 259.3% in the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock valued at $35,000 after buying an additional 490 shares in the last quarter. Signaturefd LLC grew its stake in BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock valued at $61,000 after acquiring an additional 903 shares during the period. Acadian Asset Management LLC bought a new stake in shares of BRP during the first quarter valued at approximately $70,000. Dnca Finance raised its position in shares of BRP by 36.1% during the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after purchasing an additional 369 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of BRP during the fourth quarter worth approximately $77,000.

BRP Trading Up 0.8%

DOOO traded up $0.40 during midday trading on Friday, hitting $49.23. 224,517 shares of the company were exchanged, compared to its average volume of 166,621. The firm's 50 day moving average price is $37.05 and its 200-day moving average price is $42.77. BRP has a 1-year low of $31.78 and a 1-year high of $74.00. The firm has a market capitalization of $3.60 billion, a P/E ratio of 26.18 and a beta of 1.23. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.78 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, equities analysts forecast that BRP will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.1557 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.62 annualized dividend and a dividend yield of 1.27%. This is a positive change from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio is currently -151.22%.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.