BRP (TSE:DOO) Hits New 52-Week High After Analyst Upgrade

Key Points

• BRP Inc.'s stock reached a new 52-week high of C$95.41 after Scotiabank upgraded its price target from C$98.00 to C$102.00, indicating increased analyst confidence in the company's performance.
• The stock has received multiple upgrades from various analysts, with price objectives now ranging from C$100.00 to C$116.00, reflecting a consensus rating of "Moderate Buy" and an average target price of C$94.00.
• BRP recently announced a quarterly dividend of $0.215 per share, with an annualized dividend yield of 0.9%, despite a significant negative dividend payout ratio of -170.00%.

BRP Inc. (TSE:DOO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$98.00 to C$102.00. Scotiabank currently has a sector perform rating on the stock. BRP traded as high as C$95.41 and last traded at C$95.11, with a volume of 358856 shares changing hands. The stock had previously closed at C$89.39.

Several other equities research analysts also recently issued reports on DOO. Citigroup upgraded shares of BRP from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$93.00 to C$102.00 in a research report on Wednesday, October 1st. TD Securities raised their price objective on shares of BRP from C$87.00 to C$107.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Canaccord Genuity Group raised their price objective on shares of BRP from C$108.00 to C$116.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. CIBC upgraded shares of BRP from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from C$66.00 to C$100.00 in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada raised their price objective on shares of BRP from C$68.00 to C$100.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$94.00.

BRP Price Performance

The company's fifty day moving average price is C$84.95 and its 200 day moving average price is C$67.55. The company has a market capitalization of C$6.96 billion, a P/E ratio of -190.22, a PEG ratio of 2.05 and a beta of 1.12. The company has a quick ratio of 0.20, a current ratio of 1.37 and a debt-to-equity ratio of 573.79.

BRP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. BRP's dividend payout ratio (DPR) 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.

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