BRP (TSE:DOO) Given New C$90.00 Price Target at Canadian Imperial Bank of Commerce

BRP (TSE:DOO) had its price target lowered by equities research analysts at Canadian Imperial Bank of Commerce from C$118.00 to C$90.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 18.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. TD Securities cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Scotia cut their target price on BRP from C$117.00 to C$80.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 16th. Canaccord Genuity Group cut BRP from a “buy” rating to a “hold” rating and cut their target price for the company from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. TD set a C$84.00 target price on BRP and gave the company a “hold” rating in a research note on Thursday. Finally, Desjardins cut their target price on BRP from C$138.00 to C$97.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$103.33.

BRP Stock Performance

DOO traded up C$0.60 during trading hours on Thursday, hitting C$76.00. 141,724 shares of the stock were exchanged, compared to its average volume of 298,804. The stock has a 50-day simple moving average of C$85.93 and a 200-day simple moving average of C$95.35. BRP has a 12 month low of C$48.50 and a 12 month high of C$112.26. The stock has a market cap of C$5.60 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The company has a debt-to-equity ratio of 443.59, a current ratio of 1.27 and a quick ratio of 0.20.

BRP (TSE:DOO) last posted its earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share (EPS) for the quarter. The company had revenue of C$2.46 billion for the quarter. BRP had a return on equity of 54.95% and a net margin of 3.45%. Analysts anticipate that BRP will post 6.890971 earnings per share for the current 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).