BRP Inc. (NASDAQ:DOO) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately positive: Fourteen brokerages give BRP an average “Moderate Buy” rating, with six buys, one strong buy and seven holds. The average one-year price target is $84, compared with the stock’s opening price of $58.16.
• BRP declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 1.7% yield. The dividend is payable October 13 to shareholders of record September 29.
• Institutional interest has increased, including major new positions from Capital World Investors, CIBC Asset Management and TD Asset Management; Lazard also raised its stake by 324.1%.

Shares of BRP Inc. (NASDAQ:DOO - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $84.00.

A number of equities research analysts have recently issued reports on DOO shares. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of BRP in a report on Friday, May 29th. Wall Street Zen lowered BRP from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Royal Bank Of Canada reissued an "outperform" rating on shares of BRP in a research report on Friday, May 29th. Scotiabank reissued a "sector perform" rating on shares of BRP in a research report on Friday, September 4th. Finally, UBS Group lowered their price target on BRP from $78.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, June 5th.

BRP Price Performance

Shares of NASDAQ DOO opened at $58.16 on Tuesday. BRP has a twelve month low of $48.83 and a twelve month high of $81.89. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 52.87 and a beta of 0.88. The firm has a 50-day moving average of $62.46 and a two-hundred day moving average of $61.81. The company has a current ratio of 1.19, a quick ratio of 0.52 and a debt-to-equity ratio of 7.31.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. BRP's dividend payout ratio (DPR) is currently 63.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors acquired a new stake in shares of BRP during the 4th quarter worth approximately $158,763,000. CIBC Asset Management Inc acquired a new stake in BRP in the fourth quarter valued at about $23,758,000. TD Asset Management Inc acquired a new stake in BRP in the fourth quarter valued at about $17,431,000. Lazard Asset Management LLC lifted its stake in BRP by 324.1% in the 1st quarter. Lazard Asset Management LLC now owns 152,035 shares of the company's stock valued at $10,931,000 after purchasing an additional 116,189 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of BRP in the 4th quarter valued at $3,819,000.

BRP Company Profile

BRP Inc is a Canadian manufacturer of powersports and recreational products. The company develops, manufactures, distributes and sells vehicles and related products through a portfolio of well-known brands, including Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am on-road and off-road vehicles, and Rotax engines and propulsion systems.

BRP also offers marine products through its boat brands, including Alumacraft, Manitou and Quintrex. Its product portfolio is supported by parts, accessories, apparel and other services designed to complement its vehicles and recreational equipment.

The company traces its origins to 1942, when Joseph-Armand Bombardier founded the business that developed the first Ski-Doo snowmobile.

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