BRP (TSE:DOO) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• BRP Inc. (TSE:DOO) recently surpassed its 200-day moving average of C$66.35, with shares trading as high as C$94.12 before closing at C$93.43.
• Several analysts have upgraded BRP's stock ratings, with target prices raised to between C$100.00 and C$108.00, resulting in a consensus rating of "Moderate Buy."
• BRP announced a quarterly dividend of $0.215 per share, which will be paid on October 14th, contributing to an annualized dividend yield of 0.9%.

BRP Inc. (TSE:DOO - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$66.35 and traded as high as C$94.12. BRP shares last traded at C$93.43, with a volume of 90,748 shares traded.

Wall Street Analyst Weigh In

DOO has been the subject of several analyst reports. Canaccord Genuity Group raised BRP from a "hold" rating to a "buy" rating and upped their target price for the stock from C$80.00 to C$108.00 in a research report on Tuesday, September 2nd. Citigroup raised BRP from a "hold" rating to a "buy" rating and upped their target price for the stock from C$93.00 to C$102.00 in a research report on Wednesday, October 1st. Royal Bank Of Canada upped their target price on BRP from C$68.00 to C$100.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. CIBC raised BRP from a "neutral" rating to an "outperform" rating and upped their target price for the stock from C$66.00 to C$100.00 in a research report on Tuesday, September 2nd. Finally, BMO Capital Markets upped their target price on BRP from C$75.00 to C$105.00 in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given 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$92.38.

BRP Price Performance

The company has a 50 day simple moving average of C$83.15 and a 200-day simple moving average of C$66.35. The stock has a market cap of C$6.83 billion, a price-to-earnings ratio of -186.86, 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 Dividend Announcement

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

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.

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.