BRP (TSE:DOO) Sets New 52-Week High - Here's What Happened

Key Points

• BRP Inc. (TSE:DOO) reached a new 52-week high, trading at C$92.75 during the day, up from a previous close of C$90.66.
• Analysts have recently increased their price targets for BRP, with TD Securities raising theirs from C$87.00 to C$107.00, reflecting a strong bullish sentiment towards the stock.
• The stock currently has a consensus rating of "Moderate Buy" and shows significant growth potential, evidenced by its recent 4.0% increase in value.

Shares of BRP Inc. (TSE:DOO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$92.75 and last traded at C$92.63, with a volume of 82961 shares changing hands. The stock had previously closed at C$90.66.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOO. TD Securities increased their price objective on shares of BRP from C$87.00 to C$107.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 29th. National Bankshares increased their target price on shares of BRP from C$83.00 to C$101.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 2nd. Scotiabank increased their target price on shares of BRP from C$67.00 to C$98.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 2nd. Finally, Desjardins raised shares of BRP from a "hold" rating to a "moderate buy" rating in a report on Thursday, May 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$91.69.

BRP Stock Up 4.0%

The firm's 50 day moving average price is C$73.92 and its 200-day moving average price is C$61.31. The company has a market cap of C$6.89 billion, a P/E ratio of -188.50, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. The company has a current ratio of 1.37, a quick ratio of 0.20 and a debt-to-equity ratio of 573.79.

About BRP

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.

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