BRP (TSE:DOO) Hits New 52-Week High - Still a Buy?

Key Points

• BRP Inc. has reached a new 52-week high at C$94.96, with a recent trading price of C$94.84 and a trading volume of 63,499 shares.
• Analysts have significantly increased target prices for BRP, with estimates ranging from C$98.00 to C$107.00, reflecting a strong investor sentiment towards the stock.
• The company recently declared a quarterly dividend of $0.215 per share, with a dividend yield of 0.9%, to be paid on October 14th.

BRP Inc. (TSE:DOO - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as C$94.96 and last traded at C$94.84, with a volume of 63499 shares trading hands. The stock had previously closed at C$93.43.

Analysts Set New Price Targets

DOO has been the topic of a number of analyst reports. Scotiabank upped their target price on shares of BRP from C$67.00 to C$98.00 and gave the company a "sector perform" rating in a research note on Tuesday, September 2nd. Cibc World Mkts raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 1st. Royal Bank Of Canada upped their target price on shares of BRP from C$68.00 to C$100.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. BMO Capital Markets upped their price objective on shares of BRP from C$75.00 to C$105.00 in a research note on Tuesday, September 2nd. Finally, TD Securities upped 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 note on Tuesday, September 2nd. Two equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$92.38.

BRP Price Performance

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 company's 50 day moving average price is C$83.60 and its 200 day moving average price is C$66.61. The firm has a market capitalization of C$6.76 billion, a P/E ratio of -184.74, a PEG ratio of 2.05 and a beta of 1.12.

BRP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, September 29th. BRP's dividend payout ratio is -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.