BRP (TSE:DOO) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

BRP (TSE:DOO) had its price objective raised by Royal Bank Of Canada from C$107.00 to C$113.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 43.29% from the company’s previous close.

Several other research analysts have also commented on the stock. Desjardins cut their price target on shares of BRP from C$138.00 to C$97.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Canadian Imperial Bank of Commerce lowered their price objective on shares of BRP from C$118.00 to C$90.00 and set an “outperformer” rating for the company in a research report on Thursday, May 21st. Wells Fargo & Company increased their price objective on shares of BRP from C$105.00 to C$110.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. BMO Capital Markets increased their price objective on shares of BRP from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. Finally, Scotia lowered their price objective on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating for the company in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$98.33.

BRP Trading Down 2.6%

TSE DOO traded down C$2.07 during mid-day trading on Friday, hitting C$78.86. The company’s stock had a trading volume of 160,259 shares, compared to its average volume of 296,492. BRP has a 52-week low of C$53.60 and a 52-week high of C$112.26. The stock’s fifty day simple moving average is C$84.75 and its two-hundred day simple moving average is C$94.93. The company has a debt-to-equity ratio of 443.59, a current ratio of 1.27 and a quick ratio of 0.20. The firm has a market capitalization of C$5.81 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03.

BRP (TSE:DOO) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. The firm had revenue of C$2.39 billion for the quarter. Research analysts expect that BRP will post 6.890971 EPS 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).