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

Key Points

• Citigroup lowered its price target on BRP from $86 to $75 and maintained a "neutral" rating, implying about a 29.65% upside from the stock's recent price of $57.85.
• Consensus among analysts is a "Hold" with an average price target of $75; most firms rate BRP as Hold (seven), with one Buy and one Strong Buy, and recent notes include downgrades from TD Securities and TD Cowen while Wells Fargo initiated coverage at Overweight.

BRP (NASDAQ:DOO - Get Free Report) had its price objective reduced by equities research analysts at Citigroup from $86.00 to $75.00 in a research note issued to investors on Monday. The firm presently has a "neutral" rating on the stock. Citigroup's price target indicates a potential upside of 29.65% from the stock's current price.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a "hold (c-)" rating on shares of BRP in a research report on Monday, March 23rd. TD Securities downgraded BRP from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. TD Cowen downgraded BRP from a "buy" rating to a "hold" rating in a research note on Wednesday, April 15th. UBS Group raised their price target on BRP from $70.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, January 9th. Finally, Wells Fargo & Company began coverage on BRP in a research note on Wednesday, March 11th. They set an "overweight" rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $75.00.

BRP Stock Performance

Shares of NASDAQ DOO opened at $57.85 on Monday. BRP has a one year low of $31.78 and a one year high of $81.89. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 19.88 and a beta of 1.15. The company has a debt-to-equity ratio of 3.92, a current ratio of 1.27 and a quick ratio of 0.56. The business's 50-day simple moving average is $70.88.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of BRP during the 4th quarter worth about $30,000. Signaturefd LLC bought a new position in shares of BRP in the 4th quarter valued at approximately $43,000. Quadrant Capital Group LLC bought a new position in shares of BRP in the 4th quarter valued at approximately $89,000. PNC Financial Services Group Inc. bought a new position in shares of BRP in the 4th quarter valued at approximately $142,000. Finally, Intact Investment Management Inc. bought a new position in shares of BRP in the 4th quarter valued at 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.

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