BRP (TSE:DOO) Upgraded by Citigroup to “Buy” Rating

Citigroup upgraded shares of BRP (TSE:DOO) from a hold rating to a buy rating in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have C$102.00 target price on the stock, up from their prior target price of C$93.00.

DOO has been the topic of several other research reports. Scotiabank upped their target price on BRP from C$67.00 to C$98.00 and gave the company a “sector perform” rating in a report on Tuesday, September 2nd. Canaccord Genuity Group upgraded BRP from a “hold” rating to a “buy” rating and upped their price objective for the company from C$80.00 to C$108.00 in a research report on Tuesday, September 2nd. BMO Capital Markets upped their price objective on BRP from C$75.00 to C$105.00 in a research report on Tuesday, September 2nd. TD Securities upped their price objective on BRP from C$87.00 to C$107.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Finally, National Bankshares upped their price objective on BRP from C$83.00 to C$101.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, BRP has a consensus rating of “Moderate Buy” and a consensus target price of C$92.38.

BRP Stock Up 1.8%

BRP stock opened at C$94.93 on Wednesday. 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 firm has a market capitalization of C$6.94 billion, a price-to-earnings ratio of -189.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. BRP has a fifty-two week low of C$43.88 and a fifty-two week high of C$94.96. The stock’s fifty day moving average is C$81.80 and its two-hundred day moving average is C$65.53.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, September 29th. BRP’s dividend payout ratio (DPR) is -170.00%.

About BRP

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.