Royal Bank Of Canada Lowers BRP (NASDAQ:DOO) Price Target to $107.00

Key Points

• Royal Bank of Canada lowered its price target for BRP from $124 to $107 while keeping an "outperform" rating, a target that implies roughly an 80% upside from the stock's recent close.
• Analyst consensus is more muted: the MarketBeat average price target is $85.67 and the stock carries a consensus rating of "Hold" (one Strong Buy, two Buy, seven Hold).
• BRP traded at $59.33 with a $4.35 billion market cap and a P/E of 20.3, and institutional activity included notable new positions such as QV Investors' ~$31.7 million stake.

BRP (NASDAQ:DOO - Get Free Report) had its price objective dropped by equities researchers at Royal Bank Of Canada from $124.00 to $107.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 80.34% from the stock's previous close.

A number of other analysts also recently weighed in on the stock. TD Cowen downgraded shares of BRP from a "buy" rating to a "hold" rating in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of BRP in a report on Monday, March 23rd. Wells Fargo & Company started coverage on BRP in a report on Wednesday, March 11th. They set an "overweight" rating for the company. Zacks Research upgraded BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded BRP from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $85.67.

BRP Price Performance

NASDAQ DOO traded up $1.48 on Monday, reaching $59.33. The stock had a trading volume of 51,218 shares, compared to its average volume of 336,695. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.56 and a current ratio of 1.27. BRP has a 1-year low of $31.78 and a 1-year high of $81.89. The stock's fifty day moving average is $70.88. The stock has a market capitalization of $4.35 billion, a P/E ratio of 20.33 and a beta of 1.15.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DOO. Addenda Capital Inc. acquired a new position in shares of BRP in the fourth quarter worth approximately $1,170,000. QV Investors Inc. acquired a new position in BRP in the fourth quarter valued at $31,701,000. Pictet Asset Management Holding SA bought a new stake in BRP during the fourth quarter valued at $483,000. K.J. Harrison & Partners Inc acquired a new stake in BRP during the 4th quarter worth about $1,133,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of BRP in the 4th quarter worth about $852,000.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.