Raymond James Financial Downgrades BRP (TSE:DOO) to Hold

Key Points

• Raymond James Financial downgraded BRP (TSE:DOO) from a "strong-buy" to a "hold", joining several other firms (TD, National Bank, Canaccord) that recently cut ratings and lowered price targets.
• Despite the downgrades, MarketBeat shows a consensus rating of "Moderate Buy" with a consensus price target of C$105.20.
• Shares opened at C$77.70 (1‑year range C$44.98–C$112.26) and BRP has a C$5.68B market cap; the latest quarter delivered C$2.21 EPS and C$2.46B revenue, but the company reports a very high debt‑to‑equity ratio (~443.6) and a PE of 19.67.

BRP (TSE:DOO - Get Free Report) was downgraded by Raymond James Financial from a "strong-buy" rating to a "hold" rating in a report issued on Friday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. TD cut shares of BRP from a "buy" rating to a "hold" rating and decreased their price target for the company from C$119.00 to C$84.00 in a research report on Wednesday, April 15th. National Bank Financial lowered BRP from an "outperform" rating to a "hold" rating and cut their price objective for the stock from C$125.00 to C$80.00 in a research report on Wednesday, April 15th. Desjardins reduced their price objective on BRP from C$138.00 to C$97.00 and set a "buy" rating on the stock in a research note on Thursday, April 16th. Canaccord Genuity Group lowered BRP from a "buy" rating to a "hold" rating and decreased their target price for the company from C$118.00 to C$90.00 in a report on Wednesday, April 15th. Finally, Citigroup lowered their target price on BRP from C$119.00 to C$102.00 and set a "buy" rating for the company in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, BRP has a consensus rating of "Moderate Buy" and a consensus price target of C$105.20.

BRP Stock Up 1.4%

Shares of DOO opened at C$77.70 on Friday. The stock has a market capitalization of C$5.68 billion, a PE ratio of 19.67, a P/E/G ratio of 2.05 and a beta of 0.94. BRP has a 1 year low of C$44.98 and a 1 year high of C$112.26. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27. The company's 50-day simple moving average is C$94.50 and its 200-day simple moving average is C$97.17.

BRP (TSE:DOO - Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported C$2.21 earnings per share for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. The firm had revenue of C$2.46 billion during the quarter. Analysts forecast that BRP will post 6.890971 earnings per share for the current fiscal year.

BRP Company Profile

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).

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