Robert W. Baird Reaffirms Neutral Rating for BRP (NASDAQ:DOOO)

BRP (NASDAQ:DOOO)‘s stock had its “neutral” rating restated by analysts at Robert W. Baird in a research report issued to clients and investors on Friday, Marketbeat reports. They presently have a $43.00 price objective on the stock, down from their previous price objective of $48.00. Robert W. Baird’s price target would indicate a potential upside of 21.61% from the stock’s current price.

Several other research analysts have also commented on the stock. TD Securities restated a “hold” rating on shares of BRP in a report on Thursday, March 27th. Citigroup raised shares of BRP from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $27.00 to $37.00 in a research report on Friday. Finally, Raymond James restated a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Nine research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BRP currently has an average rating of “Hold” and an average price target of $61.25.

BRP Trading Down 0.1 %

DOOO stock opened at $35.36 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 18.81 and a beta of 1.71. The business has a fifty day simple moving average of $40.77 and a 200-day simple moving average of $48.58. BRP has a 52 week low of $33.05 and a 52 week high of $74.00.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, equities research analysts expect that BRP will post 3.15 EPS for the current year.

Institutional Investors Weigh In On BRP

A number of large investors have recently added to or reduced their stakes in the company. Turtle Creek Asset Management Inc. lifted its holdings in BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock worth $151,118,000 after buying an additional 668,607 shares in the last quarter. Capital World Investors increased its position in shares of BRP by 101.2% during the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock worth $100,386,000 after acquiring an additional 991,392 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of BRP by 71.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock worth $83,399,000 after acquiring an additional 684,651 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of BRP by 23.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company’s stock worth $77,223,000 after acquiring an additional 288,004 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in BRP by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company’s stock valued at $62,355,000 after purchasing an additional 19,874 shares during the last quarter.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.