Wall Street Zen Upgrades BRP (NASDAQ:DOOO) to Buy

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

A number of other research analysts also recently weighed in on DOOO. 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 report on Friday, April 4th. Citigroup reaffirmed a "neutral" rating and issued a $51.00 price target (up from $43.00) on shares of BRP in a research note on Monday, June 16th. Raymond James Financial reiterated a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. Baird R W downgraded BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Stifel Canada upgraded BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Eight equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

BRP Stock Performance

NASDAQ:DOOO traded down $0.21 during mid-day trading on Friday, hitting $50.44. The company's stock had a trading volume of 220,965 shares, compared to its average volume of 184,180. BRP has a 1 year low of $31.78 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -123.02 and a beta of 1.23. The business's fifty day moving average is $43.22 and its two-hundred day moving average is $42.63.

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

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be given a $0.1557 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio (DPR) is -153.66%.

Hedge Funds Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in DOOO. Charles Schwab Investment Management Inc. lifted its position in BRP by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,154 shares of the company's stock worth $5,047,000 after buying an additional 3,351 shares in the last quarter. Raymond James Financial Inc. purchased a new position in BRP during the fourth quarter worth approximately $916,000. Vestcor Inc lifted its position in BRP by 285.9% during the fourth quarter. Vestcor Inc now owns 13,090 shares of the company's stock worth $666,000 after buying an additional 9,698 shares in the last quarter. Intact Investment Management Inc. purchased a new position in BRP during the fourth quarter worth approximately $148,000. Finally, Signaturefd LLC lifted its position in BRP by 296.1% during the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after buying an additional 903 shares in the last quarter.

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.