BRP (TSE:DOO) Share Price Crosses Below 200 Day Moving Average – What’s Next?

BRP Inc. (TSE:DOO) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$92.21 and traded as low as C$83.49. BRP shares last traded at C$83.62, with a volume of 448,360 shares trading hands.

Wall Street Analysts Forecast Growth

DOO has been the topic of several research reports. National Bank Financial boosted their price target on BRP from C$80.00 to C$84.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce raised their price objective on BRP from C$90.00 to C$94.00 and gave the stock an “outperformer” rating in a research report on Friday, May 29th. Wells Fargo & Company lifted their price objective on BRP from C$105.00 to C$110.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating and cut their target price for the company from C$92.00 to C$85.00 in a research note on Friday, May 29th. Finally, Scotiabank raised their target price on BRP from C$80.00 to C$83.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, BRP currently has an average rating of “Moderate Buy” and a consensus price target of C$98.73.

BRP Stock Performance

The company has a debt-to-equity ratio of 419.45, a current ratio of 1.30 and a quick ratio of 0.20. The firm has a market cap of C$6.13 billion, a P/E ratio of 22.85, a PEG ratio of 2.05 and a beta of 0.83. The stock’s 50 day moving average is C$81.61 and its two-hundred day moving average is C$92.21.

BRP (TSE:DOO) last announced its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a net margin of 3.01% and a return on equity of 46.01%. The firm had revenue of C$2.39 billion during the quarter. As a group, equities analysts predict that BRP Inc. will post 6.890971 EPS for the current 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).