BRP (NASDAQ:DOOO) Reaches New 1-Year High After Analyst Upgrade

Key Points

• BRP Inc. shares reached a new 52-week high of $67.67 after UBS Group raised their price target from $35 to $70, maintaining a neutral rating.
• The company has seen upgrades from multiple analysts, with a consensus rating of "Moderate Buy" and a price target averaging $71.50.
• BRP announced a quarterly dividend increase, raising it from $0.16 to $0.215 per share, with a yield of 1.3%.

Shares of BRP Inc. (NASDAQ:DOOO - Get Free Report) reached a new 52-week high on Monday after UBS Group raised their price target on the stock from $35.00 to $70.00. UBS Group currently has a neutral rating on the stock. BRP traded as high as $67.67 and last traded at $67.47, with a volume of 229978 shares traded. The stock had previously closed at $65.50.

DOOO has been the subject of a number of other reports. Canaccord Genuity Group raised BRP from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Zacks Research upgraded BRP from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. Wall Street Zen raised BRP from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 30th. Desjardins raised BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, National Bankshares set a $105.00 target price on BRP and gave the company a "sector perform" rating in a research report on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.50.

Hedge Funds Weigh In On BRP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. Osaic Holdings Inc. grew its stake in BRP by 905.8% during the second quarter. Osaic Holdings Inc. now owns 694 shares of the company's stock worth $34,000 after buying an additional 625 shares during the period. Tidal Investments LLC acquired a new stake in shares of BRP during the second quarter valued at approximately $290,000. Select Equity Group L.P. acquired a new stake in shares of BRP in the second quarter worth $1,793,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of BRP by 8.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,942 shares of the company's stock worth $1,017,000 after acquiring an additional 1,557 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in BRP during the second quarter valued at about $60,000.

BRP Trading Up 3.0%

The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of -281.49 and a beta of 1.19. The company has a 50-day moving average price of $53.84 and a 200-day moving average price of $44.18. The company has a quick ratio of 0.55, a current ratio of 1.34 and a debt-to-equity ratio of 5.54.

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

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from BRP's previous quarterly dividend of $0.16. BRP's dividend payout ratio (DPR) is -262.50%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.