BRP (NASDAQ:DOOO) Hits New 52-Week High - Here's Why

Key Points

• BRP Inc. has reached a new 52-week high of $68.45, with its last trading price at $67.46 and a trading volume of 17,386 shares.
• Analysts have upgraded their outlook on BRP, with UBS raising the price target to $70.00 and National Bank setting a target of $105.00, highlighting a consensus rating of "Moderate Buy."
• BRP recently increased its quarterly dividend to $0.215, translating to an annualized dividend of $0.86 and a yield of 1.3%, up from the previous $0.16.

BRP Inc. (NASDAQ:DOOO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $68.45 and last traded at $67.46, with a volume of 17386 shares changing hands. The stock had previously closed at $67.72.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of BRP from $35.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. BMO Capital Markets restated an "outperform" rating on shares of BRP in a research report on Tuesday, September 2nd. National Bankshares set a $105.00 price objective on shares of BRP and gave the stock a "sector perform" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of BRP in a research report on Tuesday, September 2nd. Finally, Cibc World Mkts upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. Four analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, BRP currently has a consensus rating of "Moderate Buy" and an average target price of $72.75.

BRP Price Performance

The firm has a market cap of $4.84 billion, a PE ratio of -275.72 and a beta of 1.19. The stock's fifty day moving average price is $61.36 and its 200-day moving average price is $48.91. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.55 and a current ratio of 1.34.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Friday, August 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.34. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.77 billion. BRP had a negative net margin of 0.34% and a positive return on equity of 61.26%. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. As a group, equities analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from BRP's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 30th. BRP's payout ratio is presently -262.50%.

Hedge Funds Weigh In On BRP

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in BRP by 10.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,158 shares of the company's stock valued at $3,685,000 after buying an additional 10,004 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of BRP by 31.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company's stock worth $2,193,000 after purchasing an additional 15,447 shares in the last quarter. Fiera Capital Corp lifted its position in shares of BRP by 5.5% in the first quarter. Fiera Capital Corp now owns 135,330 shares of the company's stock worth $4,574,000 after purchasing an additional 7,082 shares in the last quarter. National Bank of Canada FI raised its position in BRP by 20.0% during the first quarter. National Bank of Canada FI now owns 495,657 shares of the company's stock valued at $16,731,000 after acquiring an additional 82,723 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in BRP during the first quarter valued at approximately $451,000.

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.

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