BRP (TSE:DOO) Price Target Cut to C$102.00 by Analysts at Citigroup

Key Points

• Citigroup cut its target price for BRP from C$119 to C$102 while maintaining a "buy" rating, implying roughly a 25.48% upside from the prior close.
• Several brokers have recently lowered targets and downgraded BRP (e.g., Canaccord to C$90, Scotia to C$80), but consensus remains a "Moderate Buy" with an average price target of about C$101.75.
• BRP shares traded at C$81.29 (up 2.7%); the company reported quarterly EPS of C$2.21, revenue of C$2.46 billion, and has a market cap of C$5.94 billion.

BRP (TSE:DOO - Get Free Report) had its target price lowered by equities research analysts at Citigroup from C$119.00 to C$102.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 25.48% from the stock's previous close.

Several other equities research analysts also recently commented on the company. Raymond James Financial dropped their target price on BRP from C$117.00 to C$115.00 in a report on Friday, March 27th. Canaccord Genuity Group downgraded BRP from a "buy" rating to a "hold" rating and dropped their target price for the stock from C$118.00 to C$90.00 in a report on Wednesday, April 15th. Scotia dropped their target price on BRP from C$117.00 to C$80.00 and set a "sector perform" rating on the stock in a report on Thursday. TD Securities downgraded BRP from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 15th. Finally, Seaport Research Partners downgraded BRP from a "buy" rating to a "hold" rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$101.75.

BRP Stock Up 2.7%

DOO stock traded up C$2.12 during midday trading on Monday, hitting C$81.29. The stock had a trading volume of 341,082 shares, compared to its average volume of 286,065. The firm has a market cap of C$5.94 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. The business has a 50-day moving average of C$97.27 and a two-hundred day moving average of C$97.74. BRP has a 52-week low of C$43.88 and a 52-week high of C$112.26. The company has a debt-to-equity ratio of 443.59, a current ratio of 1.27 and a quick ratio of 0.20.

BRP (TSE:DOO - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share for the quarter. BRP had a return on equity of 54.95% and a net margin of 3.45%.The company had revenue of C$2.46 billion for the quarter. As a group, equities research analysts forecast that BRP will post 6.890971 earnings per share for the current fiscal year.

About BRP

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. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).

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