Royal Bank Of Canada Cuts BRP (TSE:DOO) Price Target to C$124.00

Key Points

• Royal Bank of Canada cut its price target on BRP from C$131 to C$124 while maintaining an "outperform" rating, which implies roughly a 28.9% upside from the stock's prior close.
• The consensus from analysts is a "Moderate Buy" with a consensus price target of C$115.14, reflecting mixed views—several firms have raised targets recently while Citigroup lowered theirs; current analyst counts are 1 Strong Buy, 11 Buy and 2 Hold.
• Shares traded at C$96.18 mid-day, with a market cap of C$7.03 billion and a P/E of 20.73; BRP reported C$2.21 EPS on C$2.46 billion revenue in the most recent quarter.

BRP (TSE:DOO - Get Free Report) had its price target cut by Royal Bank Of Canada from C$131.00 to C$124.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 28.92% from the stock's previous close.

A number of other analysts also recently weighed in on DOO. Citigroup cut their target price on BRP from C$128.00 to C$119.00 in a research report on Monday. TD Securities upped their price objective on shares of BRP from C$106.00 to C$119.00 and gave the stock a "buy" rating in a research report on Friday, December 5th. Canaccord Genuity Group increased their price objective on shares of BRP from C$116.00 to C$118.00 in a research note on Friday, December 5th. National Bank Financial raised shares of BRP from a "sector perform" rating to an "outperform" rating and raised their target price for the company from C$105.00 to C$125.00 in a report on Friday, December 5th. Finally, BMO Capital Markets boosted their target price on shares of BRP from C$115.00 to C$120.00 and gave the company an "outperform" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$115.14.

BRP Stock Performance

Shares of DOO traded up C$4.35 during mid-day trading on Monday, hitting C$96.18. 199,745 shares of the company's stock were exchanged, compared to its average volume of 218,088. The company has a quick ratio of 0.20, a current ratio of 1.27 and a debt-to-equity ratio of 443.59. BRP has a 52 week low of C$43.88 and a 52 week high of C$112.26. The stock's 50-day simple moving average is C$100.39 and its 200-day simple moving average is C$96.63. The firm has a market cap of C$7.03 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15.

BRP (TSE:DOO - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share (EPS) for the quarter. BRP had a return on equity of 54.95% and a net margin of 3.45%.The business had revenue of C$2.46 billion during the quarter. On average, equities research analysts expect that BRP will post 6.890971 EPS for the current year.

About BRP

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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