National Bank Financial Lowers BRP (NASDAQ:DOOO) Price Target to $131.00

BRP (NASDAQ:DOOO) had its price target cut by National Bank Financial from $135.00 to $131.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. They currently have an outperform rating on the stock. National Bank Financial also issued estimates for BRP’s Q3 2022 earnings at $1.05 EPS.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of BRP from C$125.00 to C$150.00 and gave the stock a buy rating in a research report on Friday, September 3rd. Raymond James upped their price objective on shares of BRP from C$122.00 to C$137.00 and gave the stock a strong-buy rating in a research report on Friday, September 3rd. TD Securities boosted their target price on shares of BRP from C$120.00 to C$140.00 and gave the stock a buy rating in a report on Friday, September 3rd. Northcoast Research raised shares of BRP from a neutral rating to a buy rating in a report on Wednesday, August 11th. Finally, Desjardins boosted their target price on shares of BRP from C$131.00 to C$150.00 and gave the stock a buy rating in a report on Tuesday, September 7th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $131.00.

DOOO stock opened at $82.44 on Wednesday. The stock’s 50 day moving average is $92.86. The firm has a market cap of $6.65 billion, a PE ratio of 10.14 and a beta of 2.72. BRP has a 1 year low of $52.79 and a 1 year high of $102.96.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Wednesday, September 1st. The company reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $1.85. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. BRP had a net margin of 12.76% and a negative return on equity of 209.67%. BRP’s quarterly revenue was up 54.4% on a year-over-year basis. On average, equities research analysts anticipate that BRP will post 7.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 14th. Stockholders of record on Thursday, September 30th were paid a $0.104 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, September 29th. BRP’s dividend payout ratio is currently 5.04%.

Several large investors have recently bought and sold shares of the company. UBS Group AG boosted its stake in shares of BRP by 7.2% in the 3rd quarter. UBS Group AG now owns 1,821 shares of the company’s stock valued at $168,000 after purchasing an additional 122 shares during the last quarter. LPL Financial LLC bought a new stake in shares of BRP in the 3rd quarter valued at $200,000. Millennium Management LLC boosted its stake in shares of BRP by 102.2% in the 3rd quarter. Millennium Management LLC now owns 133,783 shares of the company’s stock valued at $12,391,000 after purchasing an additional 67,625 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of BRP by 37.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 19,993 shares of the company’s stock valued at $1,852,000 after purchasing an additional 5,419 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in BRP by 13.8% during the third quarter. Invesco Ltd. now owns 444,672 shares of the company’s stock worth $41,212,000 after acquiring an additional 53,967 shares in the last quarter. 30.04% of the stock is currently owned by institutional investors.

About BRP

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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