Citigroup Forecasts Strong Price Appreciation for BRP (NASDAQ:DOOO) Stock

Key Points

• Citigroup raised its target price for BRP stock from $51.00 to $68.00, suggesting a potential upside of 3.79% from its current price.
• Analysts have given BRP a consensus rating of Moderate Buy, with four Strong Buy ratings, four Buy ratings, and six Hold ratings.
• BRP's recent earnings showed a profit of $0.67 per share, significantly beating estimates, although revenue fell short at $1.36 billion against a forecast of $1.77 billion.

BRP (NASDAQ:DOOO - Get Free Report) had its target price increased by investment analysts at Citigroup from $51.00 to $68.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target would indicate a potential upside of 3.79% from the stock's current price.

A number of other equities research analysts have also commented on the stock. Scotiabank reiterated a "sector perform" rating on shares of BRP in a report on Tuesday. TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. Canaccord Genuity Group raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Tuesday. CIBC raised shares of BRP from a "neutral" rating to a "sector outperform" rating in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of BRP in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.75.

BRP Price Performance

BRP stock traded down $1.19 during mid-day trading on Wednesday, hitting $65.52. 206,781 shares of the company traded hands, compared to its average volume of 243,074. BRP has a one year low of $31.78 and a one year high of $69.70. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -272.23 and a beta of 1.19. The company has a debt-to-equity ratio of 5.85, a quick ratio of 0.58 and a current ratio of 1.34. The stock has a fifty day moving average price of $52.81 and a 200-day moving average price of $43.71.

BRP (NASDAQ:DOOO - Get Free Report) last announced its earnings results on Friday, August 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.34. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.77 billion. BRP had a negative net margin of 0.34% and a positive return on equity of 64.24%. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. On average, equities analysts predict that BRP will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BRP

Institutional investors have recently made changes to their positions in the business. Sagard Holdings Management Inc. bought a new position in shares of BRP in the 2nd quarter worth approximately $41,000. Raymond James Financial Inc. bought a new position in shares of BRP in the 2nd quarter worth approximately $60,000. Acadian Asset Management LLC bought a new position in shares of BRP in the 1st quarter worth approximately $70,000. State of Wyoming purchased a new stake in BRP in the 1st quarter worth approximately $93,000. Finally, Russell Investments Group Ltd. increased its holdings in BRP by 75.3% in the 1st quarter. Russell Investments Group Ltd. now owns 3,820 shares of the company's stock worth $129,000 after acquiring an additional 1,641 shares in the last quarter.

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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