Citigroup Cuts BRP (NASDAQ:DOO) Price Target to $86.00

BRP (NASDAQ:DOO) had its price objective lowered by Citigroup from $87.00 to $86.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of BRP in a report on Monday, March 23rd. Wells Fargo & Company assumed coverage on BRP in a report on Wednesday, March 11th. They issued an “overweight” rating for the company. Finally, UBS Group upped their price target on shares of BRP from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.50.

BRP Price Performance

DOO stock opened at $72.70 on Monday. The company’s fifty day simple moving average is $73.02. The company has a debt-to-equity ratio of 3.92, a current ratio of 1.27 and a quick ratio of 0.56. BRP has a fifty-two week low of $31.78 and a fifty-two week high of $81.89. The firm has a market cap of $5.33 billion, a PE ratio of 24.98 and a beta of 1.15.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, April 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.00 annualized dividend and a yield of 1.4%. This is a positive change from BRP’s previous quarterly dividend of $0.07. BRP’s dividend payout ratio (DPR) is currently 21.65%.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of BRP during the fourth quarter worth $30,000. Signaturefd LLC bought a new position in BRP in the fourth quarter valued at about $43,000. Quadrant Capital Group LLC bought a new position in BRP in the fourth quarter valued at about $89,000. PNC Financial Services Group Inc. acquired a new stake in BRP in the fourth quarter worth about $142,000. Finally, Intact Investment Management Inc. acquired a new stake in BRP in the fourth quarter worth about $156,000.

BRP Company Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.