BRP (TSE:DOO) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• BRP shares crossed above their 200-day moving average of C$90.21, reaching C$92.18 during trading before last changing hands at C$89.49.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of C$98.73; targets range from C$85 to C$113.
• BRP reported quarterly earnings of C$1.83 per share on C$2.39 billion in revenue, while its valuation includes a 24.45 P/E ratio and a high debt-to-equity ratio of 419.45.

BRP Inc. (TSE:DOO - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$90.21 and traded as high as C$92.18. BRP shares last traded at C$89.49, with a volume of 236,300 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DOO shares. Desjardins increased their target price on shares of BRP from C$97.00 to C$103.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Royal Bank Of Canada upped their price target on BRP from C$107.00 to C$113.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Stifel Nicolaus downgraded BRP from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$92.00 to C$85.00 in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce lifted their price objective on BRP from C$90.00 to C$94.00 and gave the stock an "outperformer" rating in a report on Friday, May 29th. Finally, TD upped their target price on BRP from C$84.00 to C$92.00 and gave the company a "hold" rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, BRP has a consensus rating of "Moderate Buy" and an average target price of C$98.73.

BRP Stock Down 2.5%

The company has a market capitalization of C$6.60 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.05 and a beta of 0.81. The business has a fifty day simple moving average of C$85.20 and a two-hundred day simple moving average of C$90.21. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 419.45.

BRP (TSE:DOO - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 earnings per share for the quarter. The firm had revenue of C$2.39 billion for the quarter. BRP had a return on equity of 46.01% and a net margin of 3.01%. Equities analysts expect that BRP Inc. will post 6.890971 EPS for the current year.

BRP Company Profile

BRP Inc is a global leader in the world of powersports products and powertrains, built on over 80 years of ingenuity, innovation, and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on- and off-road vehicles, Quintrex boats as well as Rotax engines for karts, recreational aircraft and jet boats, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds.

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