BRP Inc. (NASDAQ:DOOO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

BRP Inc. (NASDAQ:DOOO) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $43.00.

DOOO has been the topic of several research reports. Raymond James Financial restated a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Desjardins upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Citigroup restated a “neutral” rating and set a $51.00 price objective (up previously from $43.00) on shares of BRP in a report on Monday, June 16th. TD Securities upgraded shares of BRP from a “hold” rating to a “strong-buy” rating in a report on Friday, May 30th. Finally, UBS Group lowered their price objective on shares of BRP from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd.

BRP Stock Up 4.4%

Shares of NASDAQ DOOO opened at $52.44 on Thursday. The firm has a market cap of $3.83 billion, a PE ratio of -127.90 and a beta of 1.23. BRP has a 12-month low of $31.78 and a 12-month high of $74.00. The company’s fifty day simple moving average is $41.50 and its 200 day simple moving average is $42.63. The company has a quick ratio of 0.58, a current ratio of 1.34 and a debt-to-equity ratio of 5.85.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.78 billion. As a group, sell-side analysts forecast that BRP will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Monday, June 30th will be issued a $0.1557 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.62 annualized dividend and a dividend yield of 1.19%. This is an increase from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio is currently -153.66%.

Institutional Trading of BRP

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock valued at $35,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC raised its holdings in shares of BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after purchasing an additional 903 shares during the last quarter. Dnca Finance raised its holdings in shares of BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company’s stock valued at $71,000 after purchasing an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of BRP in the fourth quarter valued at about $77,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of BRP in the first quarter valued at about $70,000.

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.