BRP (TSE:DOO) Stock Price Expected to Rise, Desjardins Analyst Says

BRP (TSE:DOO) had its price target raised by Desjardins from C$97.00 to C$103.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 27.95% from the company’s previous close.

Several other equities research analysts also recently issued reports on DOO. Scotiabank lifted their price target on shares of BRP from C$80.00 to C$83.00 and gave the stock a “sector perform” rating in a research note on Friday. National Bank Financial lifted their price target on shares of BRP from C$80.00 to C$84.00 and gave the stock a “sector perform” rating in a research note on Friday. BMO Capital Markets lifted their price target on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Canaccord Genuity Group downgraded shares of BRP from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Finally, Raymond James Financial downgraded shares of BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, BRP has an average rating of “Moderate Buy” and an average price target of C$98.73.

BRP Trading Up 1.0%

Shares of DOO stock traded up C$0.80 during mid-day trading on Monday, reaching C$80.50. The company’s stock had a trading volume of 159,952 shares, compared to its average volume of 298,624. The company’s 50 day simple moving average is C$84.64 and its 200-day simple moving average is C$94.86. BRP has a 12-month low of C$59.43 and a 12-month high of C$112.26. The company has a quick ratio of 0.20, a current ratio of 1.30 and a debt-to-equity ratio of 419.45. The firm has a market capitalization of C$5.90 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03.

BRP (TSE:DOO) last issued its earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a net margin of 3.01% and a return on equity of 46.01%. The business had revenue of C$2.39 billion for the quarter. On average, research analysts predict that BRP will post 6.890971 EPS for the current fiscal year.

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).