BRP (TSE:DOO) Share Price Breaks Above 200-Day Moving Average – What’s Next?

BRP Inc. (TSE:DOO)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$88.23 and traded as high as C$93.92. BRP shares last traded at C$93.81, with a volume of 425,746 shares trading hands.

Analyst Ratings Changes

DOO has been the subject of a number of research reports. Citigroup raised their price objective on BRP from C$106.00 to C$110.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. TD raised BRP from a “hold” rating to a “buy” rating and lifted their target price for the company from C$92.00 to C$106.00 in a research note on Wednesday, August 19th. TD Securities upgraded BRP from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, National Bank Financial raised shares of BRP from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$98.00 to C$112.00 in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$103.93.

BRP Trading Up 7.7%

The company has a fifty day simple moving average of C$82.21 and a two-hundred day simple moving average of C$88.23. The company has a market capitalization of C$6.67 billion, a P/E ratio of 62.13, a price-to-earnings-growth ratio of 2.05 and a beta of 0.79. The company has a debt-to-equity ratio of 912.53, a current ratio of 1.19 and a quick ratio of 0.20.

BRP (TSE:DOO) last released its quarterly earnings results on Thursday, September 3rd. The company reported C($0.18) EPS for the quarter. The firm had revenue of C$2.24 billion during the quarter. BRP had a net margin of 1.21% and a return on equity of 20.51%. On average, analysts forecast that BRP Inc. will post 6.89 earnings per share for the current fiscal year.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Tuesday, October 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. BRP’s dividend payout ratio (DPR) is 61.59%.

About BRP

BRP Inc is a global leader in the world of powersports products and powertrains, built on over 80 years of ingenuity, innovation, and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on- and off-road vehicles, Quintrex boats as well as Rotax engines for karts, recreational aircraft and jet boats, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds.