BRP (TSE:DOO) Sets New 1-Year High – Should You Buy?

BRP Inc. (TSE:DOO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$98.86 and last traded at C$98.65, with a volume of 131574 shares traded. The stock had previously closed at C$97.05.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of BRP from C$108.00 to C$116.00 and gave the company a “buy” rating in a research report on Friday, October 10th. TD Securities upped their target price on shares of BRP from C$87.00 to C$107.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Citigroup upgraded shares of BRP from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$93.00 to C$102.00 in a research note on Wednesday, October 1st. BMO Capital Markets upped their price objective on BRP from C$75.00 to C$105.00 in a research note on Tuesday, September 2nd. Finally, Cibc World Mkts raised BRP from a “hold” rating to a “strong-buy” rating in a report on Monday, September 1st. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$97.33.

BRP Price Performance

The company has a current ratio of 1.37, a quick ratio of 0.20 and a debt-to-equity ratio of 573.79. The stock has a 50 day simple moving average of C$91.09 and a 200-day simple moving average of C$78.39. The firm has a market cap of C$7.21 billion, a PE ratio of -197.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 29th. BRP’s dividend payout ratio is -170.00%.

BRP Company Profile

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.