BRP (NASDAQ:DOOO) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of BRP (NASDAQ:DOOO - Free Report) from a hold rating to a buy rating in a report released on Sunday morning.

Several other equities research analysts also recently issued reports on the stock. Robert W. Baird reiterated a "neutral" rating and issued a $43.00 target price (down from $48.00) on shares of BRP in a research note on Friday, April 4th. Desjardins upgraded shares of BRP from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Raymond James Financial reissued a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Citigroup reissued a "neutral" rating and issued a $51.00 price target (up from $43.00) on shares of BRP in a report on Monday, June 16th. Finally, TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

BRP Stock Down 3.0%

Shares of BRP stock traded down $1.55 during trading hours on Friday, reaching $50.93. 185,278 shares of the company's stock were exchanged, compared to its average volume of 183,776. The company has a 50 day moving average of $42.22 and a two-hundred day moving average of $42.53. BRP has a fifty-two week low of $31.78 and a fifty-two week high of $74.00. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85. The stock has a market cap of $3.72 billion, a P/E ratio of -124.22 and a beta of 1.23.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, sell-side analysts forecast that BRP will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.1557 per share. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from BRP's previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a dividend yield of 1.22%. BRP's dividend payout ratio (DPR) is currently -153.66%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOOO. Quadrant Capital Group LLC boosted its position 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 in the last quarter. Signaturefd LLC boosted its position in shares of BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after acquiring an additional 903 shares in the last quarter. Dnca Finance boosted its position in shares of BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after acquiring an additional 369 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of BRP during the 4th quarter worth approximately $77,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of BRP during the 1st quarter worth approximately $70,000.

About BRP

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.