BRP (TSE:DOO) Hits New 1-Year High - Still a Buy?

Key Points

• BRP Inc. (TSE:DOO) reached a new 52-week high of C$94.92, with recent trading volumes around 93,605 shares.
• Multiple analysts have raised their price targets for BRP, with BMO Capital Markets setting a new target at C$105.00 and TD Securities at C$107.00, indicating strong market confidence.
• BRP announced a quarterly dividend of $0.215, translating to an annual yield of 0.9%, with the ex-dividend date set for September 29th.

BRP Inc. (TSE:DOO - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as C$94.92 and last traded at C$94.66, with a volume of 93605 shares changing hands. The stock had previously closed at C$93.27.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOO. BMO Capital Markets lifted their target price on BRP from C$75.00 to C$105.00 in a report on Tuesday, September 2nd. CIBC upgraded BRP from a "neutral" rating to an "outperform" rating and lifted their target price for the company from C$66.00 to C$100.00 in a report on Tuesday, September 2nd. Royal Bank Of Canada lifted their target price on BRP from C$68.00 to C$100.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. National Bankshares lifted their target price on BRP from C$83.00 to C$101.00 and gave the company a "sector perform" rating in a report on Tuesday, September 2nd. Finally, TD Securities lifted their target price on BRP from C$87.00 to C$107.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, BRP has a consensus rating of "Moderate Buy" and an average target price of C$92.38.

BRP Stock Performance

The firm has a market capitalization of C$6.94 billion, a PE ratio of -189.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. The company has a debt-to-equity ratio of 573.79, a current ratio of 1.37 and a quick ratio of 0.20. The stock has a 50-day moving average price of C$81.80 and a 200-day moving average price of C$65.53.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, October 14th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, September 29th. BRP's payout ratio is currently -170.00%.

BRP Company Profile

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.

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.