BRP (TSE:DOO) Sets New 12-Month High – Here’s What Happened

BRP Inc. (TSE:DOO) shares reached a new 52-week high on Thursday . The stock traded as high as C$111.28 and last traded at C$110.85, with a volume of 40349 shares traded. The stock had previously closed at C$109.88.

Analysts Set New Price Targets

DOO has been the topic of a number of recent research reports. CIBC boosted their price target on shares of BRP from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Natl Bk Canada upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. National Bankshares upgraded BRP from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$105.00 to C$125.00 in a report on Friday, December 5th. Canaccord Genuity Group lifted their price objective on shares of BRP from C$116.00 to C$118.00 in a report on Friday, December 5th. Finally, Desjardins upped their price target on BRP from C$117.00 to C$130.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, BRP currently has an average rating of “Buy” and an average price target of C$111.33.

BRP Price Performance

The stock has a market capitalization of C$8.17 billion, a price-to-earnings ratio of 337.15, a P/E/G ratio of 2.05 and a beta of 1.25. The company has a quick ratio of 0.20, a current ratio of 1.37 and a debt-to-equity ratio of 573.79. The stock has a fifty day moving average of C$99.61 and a 200-day moving average of C$88.45.

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. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).