Royal Bank Of Canada Has Lowered Expectations for BRP (TSE:DOO) Stock Price

Key Points

• Royal Bank of Canada cut its price target on BRP from C$124 to C$107 while keeping an "outperform" rating, a target that implies roughly a 31.6% upside from the stock's prior close.
• Other analysts have also trimmed ratings and targets — including Canaccord (to "hold" and C$90), Desjardins (to C$97), and TD (downgrade to "hold") — leaving a MarketBeat consensus of "Moderate Buy" with a C$101.75 target.
• BRP shares traded at C$81.29 midday, trading below the C$97 50- and 200-day moving averages and below analyst targets, with a market cap of C$5.94 billion and a P/E of 20.58.

BRP (TSE:DOO - Get Free Report) had its price objective cut by equities research analysts at Royal Bank Of Canada from C$124.00 to C$107.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 31.63% from the company's previous close.

A number of other equities analysts have also issued reports on DOO. Canaccord Genuity Group lowered BRP from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$118.00 to C$90.00 in a report on Wednesday, April 15th. Desjardins reduced their price objective on shares of BRP from C$138.00 to C$97.00 and set a "buy" rating for the company in a research report on Thursday. TD Securities downgraded shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. Raymond James Financial reduced their price objective on shares of BRP from C$117.00 to C$115.00 in a research report on Friday, March 27th. Finally, Wells Fargo & Company raised their price objective on shares of BRP from C$105.00 to C$110.00 and gave the company an "overweight" rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, BRP has a consensus rating of "Moderate Buy" and a consensus target price of C$101.75.

BRP Stock Performance

Shares of TSE DOO traded up C$2.12 during midday trading on Monday, reaching C$81.29. 341,082 shares of the company were exchanged, compared to its average volume of 286,065. The company has a current ratio of 1.27, a quick ratio of 0.20 and a debt-to-equity ratio of 443.59. BRP has a 1 year low of C$43.88 and a 1 year high of C$112.26. The stock has a fifty day simple moving average of C$97.27 and a 200 day simple moving average of C$97.74. The stock has a market cap of C$5.94 billion, a P/E ratio of 20.58, a PEG ratio of 2.05 and a beta of 0.94.

BRP (TSE:DOO - Get Free Report) last released 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 firm had revenue of C$2.46 billion for the quarter. On average, research analysts forecast that BRP will post 6.890971 earnings per share for the current fiscal 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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