Scotiabank Issues Positive Forecast for BRP (TSE:DOO) Stock Price

BRP (TSE:DOO) had its target price raised by analysts at Scotiabank from C$80.00 to C$83.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 5.25% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. TD Securities cut shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Scotia dropped their target price on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company raised their target price on shares of BRP from C$105.00 to C$110.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Desjardins dropped their target price on shares of BRP from C$138.00 to C$97.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Finally, Ci Capital dropped their target price on shares of BRP from C$128.00 to C$119.00 and set a “buy” rating on the stock in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$98.33.

BRP Stock Down 2.6%

Shares of TSE:DOO traded down C$2.07 during trading on Friday, reaching C$78.86. 160,259 shares of the stock traded hands, compared to its average volume of 296,492. The stock has a 50-day moving average of C$84.75 and a two-hundred day moving average of C$94.93. BRP has a 52-week low of C$53.60 and a 52-week high of C$112.26. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27. The stock has a market cap of C$5.81 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03.

BRP (TSE:DOO) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. The firm had revenue of C$2.39 billion for the quarter. As a group, sell-side analysts expect that BRP will post 6.890971 earnings per share for the current fiscal year.

BRP Company Profile

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. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).