BRP Inc. (NASDAQ:DOOO) Receives $43.00 Average Price Target from Brokerages

Key Points

• BRP Inc. has received a consensus recommendation of "Moderate Buy" from twelve research firms, with a price target averaging $43.00.
• The company recently increased its quarterly dividend to $0.1557, representing an annual yield of 1.25%, and has a negative payout ratio of -153.66%.
• BRP reported a quarterly EPS of $0.33, exceeding expectations, but actual revenue of $1.34 billion was below analyst forecasts of $1.78 billion.

BRP Inc. (NASDAQ:DOOO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.00.

Several research analysts have recently weighed in on DOOO shares. UBS Group decreased their target price on shares of BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Sunday, July 6th. Robert W. Baird restated a "neutral" rating and set a $43.00 target price (down from $48.00) on shares of BRP in a research note on Friday, April 4th. Citigroup reiterated a "neutral" rating and issued a $51.00 price target (up previously from $43.00) on shares of BRP in a research note on Monday, June 16th. Finally, Desjardins upgraded BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th.

BRP Trading Down 1.6%

DOOO stock traded down $0.81 on Monday, hitting $50.57. 109,433 shares of the company were exchanged, compared to its average volume of 228,707. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -123.33 and a beta of 1.23. The business's fifty day moving average is $47.42 and its two-hundred day moving average is $42.51. BRP has a twelve month low of $31.78 and a twelve month high of $74.00. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a positive return on equity of 54.71% and a negative net margin of 0.55%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, research analysts forecast that BRP will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were given a $0.1557 dividend. The ex-dividend date was Monday, June 30th. This is a positive change from BRP's previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.23%. BRP's dividend payout ratio (DPR) is currently -153.66%.

Hedge Funds Weigh In On BRP

Institutional investors have recently modified their holdings of the company. FIL Ltd lifted its position in BRP by 176.2% in the 4th quarter. FIL Ltd now owns 792,000 shares of the company's stock valued at $40,337,000 after purchasing an additional 505,228 shares during the last quarter. Invesco Ltd. boosted its position in shares of BRP by 18.1% during the fourth quarter. Invesco Ltd. now owns 1,163,257 shares of the company's stock worth $59,175,000 after buying an additional 178,039 shares during the period. Raymond James Financial Inc. acquired a new position in shares of BRP during the fourth quarter worth approximately $916,000. Alliancebernstein L.P. grew its holdings in BRP by 25.0% in the 4th quarter. Alliancebernstein L.P. now owns 388,568 shares of the company's stock worth $19,766,000 after buying an additional 77,699 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in BRP by 16.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 171,554 shares of the company's stock valued at $8,727,000 after acquiring an additional 24,171 shares during the period.

About BRP

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.