BRP (TSE:DOO) Price Target Raised to C$94.00 at Canadian Imperial Bank of Commerce

BRP (TSE:DOO) had its price target raised by Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price target would suggest a potential upside of 19.20% from the company’s previous close.

Other research analysts also recently issued reports about the stock. BMO Capital Markets lifted their target price on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. National Bank Financial downgraded BRP from an “outperform” rating to a “hold” rating and dropped their target price for the company from C$125.00 to C$80.00 in a report on Wednesday, April 15th. Wells Fargo & Company upped their target price on BRP from C$105.00 to C$110.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Seaport Research Partners downgraded BRP from a “buy” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Royal Bank Of Canada upped their target price on BRP from C$107.00 to C$113.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$98.33.

BRP Trading Down 2.6%

Shares of BRP stock traded down C$2.07 during trading on Friday, hitting C$78.86. The stock had a trading volume of 160,259 shares, compared to its average volume of 296,492. The stock has a 50 day simple moving average of C$84.75 and a 200 day simple moving average of C$94.93. The company has a market capitalization of C$5.81 billion, a PE ratio of 19.96, a P/E/G ratio of 2.05 and a beta of 1.03. The company has a quick ratio of 0.20, a current ratio of 1.27 and a debt-to-equity ratio of 443.59. BRP has a 1 year low of C$53.60 and a 1 year high of C$112.26.

BRP (TSE:DOO) last released its earnings results on Thursday, May 28th. The company reported C$1.83 earnings per share for the quarter. The business had revenue of C$2.39 billion for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. On average, research analysts expect that BRP will post 6.890971 EPS for the current fiscal year.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).