BRP (TSE:DOO) Share Price Breaks Below 200 Day Moving Average - Here's Why

Key Points

• BRP shares fell below their 200-day moving average, trading as low as C$76.15 versus the C$84.25 average, and last changing hands at C$77.01.
• Analyst sentiment remains broadly positive: the stock carries a consensus “Moderate Buy” rating and a C$103.93 target price, with several firms recently upgrading their recommendations.
• BRP reported quarterly revenue of C$2.24 billion and EPS of negative C$0.18, while maintaining a quarterly dividend of C$0.25, equivalent to a 1.3% yield.

BRP Inc. (TSE:DOO - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$84.25 and traded as low as C$76.15. BRP shares last traded at C$77.01, with a volume of 143,811 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DOO shares. TD Securities raised BRP from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 18th. National Bank Financial raised shares of BRP from a "hold" rating to an "outperform" rating and boosted their price objective for the company from C$98.00 to C$112.00 in a research report on Thursday, September 3rd. Citigroup upped their price objective on shares of BRP from C$106.00 to C$110.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. Finally, TD raised shares of BRP from a "hold" rating to a "buy" rating and raised their target price for the stock from C$92.00 to C$106.00 in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$103.93.

BRP Stock Down 0.5%

The stock has a 50 day simple moving average of C$83.77 and a 200-day simple moving average of C$84.25. The firm has a market cap of C$5.48 billion, a PE ratio of 51.00, a PEG ratio of 2.05 and a beta of 0.79. The company has a debt-to-equity ratio of 912.53, a current ratio of 1.19 and a quick ratio of 0.20.

BRP (TSE:DOO - Get Free Report) last released its earnings results on Thursday, September 3rd. The company reported C($0.18) EPS for the quarter. BRP had a return on equity of 20.51% and a net margin of 1.21%. The company had revenue of C$2.24 billion during the quarter. Sell-side analysts predict that BRP Inc. will post 6.89 EPS for the current fiscal year.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Tuesday, October 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 29th. BRP's dividend payout ratio is currently 61.59%.

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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