BRP (TSE:DOO) Raised to Buy at Canaccord Genuity Group

BRP (TSE:DOO) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a C$108.00 price objective on the stock, up from their previous price objective of C$80.00. Canaccord Genuity Group’s target price suggests a potential upside of 20.23% from the stock’s current price.

Several other brokerages have also commented on DOO. CIBC raised shares of BRP from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$66.00 to C$100.00 in a research report on Tuesday. Desjardins raised shares of BRP from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 29th. TD Securities upped their price target on shares of BRP from C$70.00 to C$87.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Scotiabank upped their price target on shares of BRP from C$67.00 to C$98.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Citigroup upped their price target on shares of BRP from C$49.00 to C$60.00 in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, BRP currently has a consensus rating of “Moderate Buy” and a consensus price target of C$91.69.

BRP Stock Performance

Shares of DOO stock opened at C$89.83 on Tuesday. BRP has a one year low of C$43.88 and a one year high of C$94.23. The company has a debt-to-equity ratio of 573.79, a quick ratio of 0.20 and a current ratio of 1.37. The company has a 50 day moving average price of C$72.95 and a 200 day moving average price of C$60.91. The firm has a market capitalization of C$6.56 billion, a price-to-earnings ratio of -179.66, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05.

BRP Company Profile

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.