Wall Street Zen Upgrades BRP (NASDAQ:DOOO) to "Buy"

Wall Street Zen upgraded shares of BRP (NASDAQ:DOOO - Free Report) from a hold rating to a buy rating in a report released on Friday.

Other equities analysts have also issued research reports about the company. Desjardins upgraded BRP from a "hold" rating to a "buy" rating in a research note on Friday. TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday. Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and upped their price target for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Raymond James reiterated a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $43.00 price objective (down previously from $48.00) on shares of BRP in a research note on Friday, April 4th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.75.

BRP Trading Up 9.1%

Shares of NASDAQ:DOOO traded up $3.71 during trading on Friday, reaching $44.26. 600,260 shares of the company were exchanged, compared to its average volume of 164,874. The business's fifty day simple moving average is $35.51 and its 200-day simple moving average is $42.85. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. BRP has a 12-month low of $31.78 and a 12-month high of $74.00. The firm has a market capitalization of $3.23 billion, a PE ratio of 23.54 and a beta of 1.17.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.78 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, research analysts anticipate that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be given a dividend of $0.1557 per share. This is a boost from BRP's previous quarterly dividend of $0.15. The ex-dividend date is Monday, June 30th. This represents a $0.62 dividend on an annualized basis and a yield of 1.41%. BRP's dividend payout ratio is presently -29.21%.

Hedge Funds Weigh In On BRP

Institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of BRP by 699.9% in the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock worth $3,875,000 after purchasing an additional 66,627 shares in the last quarter. CIBC Asset Management Inc raised its stake in BRP by 14.0% in the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock valued at $7,270,000 after buying an additional 16,379 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in BRP by 44.2% in the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock worth $2,408,000 after acquiring an additional 14,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of BRP by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,154 shares of the company's stock worth $5,047,000 after acquiring an additional 3,351 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of BRP during the fourth quarter valued at about $916,000.

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.