BRP (NASDAQ:DOOO) Raised to "Strong-Buy" at Stifel Canada

Stifel Canada upgraded shares of BRP (NASDAQ:DOOO - Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. UBS Group cut their target price on BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Raymond James reaffirmed a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Wall Street Zen upgraded shares of BRP from a "hold" rating to a "buy" rating in a report on Friday. Robert W. Baird reiterated a "neutral" rating and issued a $43.00 price objective (down previously from $48.00) on shares of BRP in a research note on Friday, April 4th. Finally, Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $27.00 to $37.00 in a research note on Friday, April 4th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.75.

BRP Stock Up 1.6%

DOOO stock traded up $0.70 during midday trading on Thursday, reaching $45.24. 173,082 shares of the company's stock traded hands, compared to its average volume of 165,455. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The firm's fifty day moving average price is $35.64 and its 200-day moving average price is $42.79. BRP has a 52 week low of $31.78 and a 52 week high of $74.00. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 24.06 and a beta of 1.17.

BRP (NASDAQ:DOOO - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a net margin of 2.29% and a return on equity of 61.20%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, sell-side analysts forecast that BRP will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.1557 dividend. This is an increase from BRP's previous quarterly dividend of $0.15. The ex-dividend date is Monday, June 30th. This represents a $0.62 annualized dividend and a yield of 1.38%. BRP's dividend payout ratio is presently -143.90%.

Institutional Trading of BRP

Large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in shares of BRP by 259.3% during the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after acquiring an additional 490 shares during the period. Signaturefd LLC lifted its holdings in BRP by 296.1% during the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock valued at $61,000 after purchasing an additional 903 shares during the last quarter. Dnca Finance boosted its position in BRP by 36.1% during the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after purchasing an additional 369 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of BRP in the fourth quarter worth about $77,000. Finally, Acadian Asset Management LLC bought a new stake in shares of BRP in the first quarter valued at approximately $70,000.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.