BRP Inc. (NASDAQ:DOO) Stock Has Average Target Price of $84.00

Shares of BRP Inc. (NASDAQ:DOO) have earned an average rating of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $84.00.

Several equities research analysts have issued reports on the stock. Zacks Research downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Scotiabank reiterated a “sector perform” rating on shares of BRP in a research report on Friday, September 4th. National Bank Financial upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 3rd. Finally, Citigroup lifted their price objective on shares of BRP from $74.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th.

BRP Trading Down 0.7%

Shares of NASDAQ:DOO opened at $58.12 on Friday. The company has a 50-day simple moving average of $59.25 and a 200 day simple moving average of $59.99. The company has a market capitalization of $4.14 billion, a P/E ratio of 14.86 and a beta of 0.97. The company has a debt-to-equity ratio of 7.31, a quick ratio of 0.52 and a current ratio of 1.19. BRP has a 52-week low of $48.83 and a 52-week high of $81.89.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Tuesday, September 29th were paid a C$0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.00 annualized dividend and a yield of 1.7%. BRP’s dividend payout ratio (DPR) is 65.45%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in BRP by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock valued at $65,728,000 after purchasing an additional 23,055 shares during the last quarter. TD Asset Management Inc boosted its position in BRP by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 232,711 shares of the company’s stock worth $14,210,000 after buying an additional 8,239 shares during the period. Dimensional Fund Advisors LP boosted its position in BRP by 11.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock worth $14,805,000 after buying an additional 20,786 shares during the period. Lazard Asset Management LLC grew its holdings in BRP by 324.1% during the 1st quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after acquiring an additional 116,189 shares during the last quarter. Finally, Swiss National Bank increased its position in BRP by 1.3% in the 1st quarter. Swiss National Bank now owns 72,600 shares of the company’s stock valued at $5,211,000 after acquiring an additional 900 shares during the period.

BRP Company Profile

BRP Inc is a Canadian powersports and recreational products manufacturer headquartered in Valcourt, Quebec. The company traces its origins to 1942, when Joseph-Armand Bombardier founded a business focused on tracked vehicles, and became an independent public company after separating from Bombardier Inc in 2003.

BRP develops, manufactures and distributes powersports vehicles and marine products. Its portfolio includes Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am side-by-side and three-wheel vehicles, Rotax engines, and marine brands such as Alumacraft and Manitou.