BRP (TSE:DOO) Stock Price Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• BRP shares rose 2.7%, trading above their 50-day moving average of C$82.68 and reaching C$84.68, although they remained below the 200-day average of C$88.71.
• Analyst sentiment improved, with multiple upgrades and price-target increases. The stock now has a consensus “Moderate Buy” rating and an average price target of C$103.93.
• BRP reported quarterly revenue of C$2.24 billion and a loss of C$0.18 per share, while maintaining a quarterly dividend of C$0.25, equivalent to a 1.2% annual yield.

BRP Inc. (TSE:DOO - Get Free Report)'s share price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$82.68 and traded as high as C$84.68. BRP shares last traded at C$84.19, with a volume of 152,361 shares.

Analyst Ratings Changes

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

BRP Stock Up 2.7%

The company has a debt-to-equity ratio of 912.53, a current ratio of 1.19 and a quick ratio of 0.20. The business has a 50 day simple moving average of C$82.68 and a 200 day simple moving average of C$88.71. The stock has a market cap of C$5.99 billion, a PE ratio of 55.75, a P/E/G ratio of 2.05 and a beta of 0.79.

BRP (TSE:DOO - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported C($0.18) earnings per share for the quarter. The firm had revenue of C$2.24 billion for the quarter. BRP had a return on equity of 20.51% and a net margin of 1.21%. On average, equities research analysts forecast that BRP Inc. will post 6.89 EPS for the current fiscal year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Tuesday, October 13th were issued a $0.25 dividend. The ex-dividend date was Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. BRP's dividend payout ratio is currently 61.59%.

About BRP

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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