BRP (NASDAQ:DOOO) Upgraded by Cibc World Mkts to Strong-Buy Rating

Key Points

• BRP (NASDAQ:DOOO) has received multiple upgrades in stock ratings, including a shift from "hold" to "strong-buy" by Cibc World Markets and Stifel Canada.
• The company reported earnings of $0.67 per share, significantly exceeding the consensus estimate of $0.33, while revenues were slightly below expectations at $1.36 billion.
• Analysts have set an average price target of $58.50 for BRP, with a mix of ratings including four "strong-buy," four "buy," and six "hold" recommendations.

BRP (NASDAQ:DOOO - Get Free Report) was upgraded by stock analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms have also recently commented on DOOO. Stifel Canada raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Scotiabank reaffirmed a "sector perform" rating on shares of BRP in a research report on Tuesday. Desjardins raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. CIBC raised shares of BRP from a "neutral" rating to a "sector outperform" rating in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of BRP in a research note on Tuesday. Four analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, BRP currently has an average rating of "Moderate Buy" and an average price target of $71.50.

BRP Stock Up 0.1%

Shares of NASDAQ DOOO traded up $0.08 during midday trading on Monday, reaching $65.50. The company's stock had a trading volume of 290,783 shares, compared to its average volume of 351,348. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.54. BRP has a fifty-two week low of $31.78 and a fifty-two week high of $67.33. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of -272.92 and a beta of 1.19. The stock has a 50 day simple moving average of $53.84 and a 200-day simple moving average of $44.16.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings data on Friday, August 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.34. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate 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. Equities research analysts predict that BRP will post 3.15 earnings per share for the current year.

Hedge Funds Weigh In On BRP

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp raised its stake in shares of BRP by 51.1% during the 2nd quarter. Mackenzie Financial Corp now owns 2,847,424 shares of the company's stock worth $138,302,000 after purchasing an additional 962,696 shares during the period. Turtle Creek Asset Management Inc. raised its stake in BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company's stock valued at $151,118,000 after acquiring an additional 668,607 shares during the period. Goldman Sachs Group Inc. raised its stake in BRP by 144.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company's stock valued at $24,460,000 after acquiring an additional 427,434 shares during the period. Price T Rowe Associates Inc. MD raised its stake in BRP by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,744,879 shares of the company's stock valued at $92,805,000 after acquiring an additional 346,114 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in BRP by 696.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 291,203 shares of the company's stock valued at $14,144,000 after acquiring an additional 254,627 shares during the period.

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.