BRP (NASDAQ:DOOO) Given New $65.00 Price Target at UBS Group

BRP (NASDAQ:DOOO) had its price target reduced by UBS Group from $66.00 to $65.00 in a research note issued to investors on Friday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on DOOO. Cibc World Mkts downgraded BRP from a strong-buy rating to a hold rating in a research report on Monday, September 9th. National Bank Financial lowered BRP from an outperform rating to a sector perform rating in a report on Wednesday, August 21st. CIBC decreased their target price on BRP from $110.00 to $100.00 and set an outperformer rating for the company in a report on Monday, June 3rd. Citigroup cut their price target on shares of BRP from $80.00 to $75.00 and set a buy rating on the stock in a report on Monday, September 9th. Finally, Scotiabank cut shares of BRP from a sector outperform rating to a sector perform rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $97.00.

BRP Trading Down 3.4 %

Shares of BRP stock opened at $60.49 on Friday. BRP has a 12-month low of $57.15 and a 12-month high of $79.40. The firm’s 50 day simple moving average is $67.84 and its two-hundred day simple moving average is $66.80. The company has a current ratio of 1.32, a quick ratio of 0.46 and a debt-to-equity ratio of 4.99. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.01 and a beta of 2.07.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.152 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.01%. BRP’s payout ratio is 10.85%.

Hedge Funds Weigh In On BRP

Large investors have recently made changes to their positions in the company. Aristides Capital LLC purchased a new position in BRP in the second quarter valued at $241,000. The Manufacturers Life Insurance Company increased its stake in shares of BRP by 61.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after purchasing an additional 408,692 shares in the last quarter. Dimension Capital Management LLC increased its stake in shares of BRP by 73.6% in the 2nd quarter. Dimension Capital Management LLC now owns 11,098 shares of the company’s stock valued at $711,000 after purchasing an additional 4,706 shares in the last quarter. Sei Investments Co. raised its holdings in BRP by 31.3% in the 2nd quarter. Sei Investments Co. now owns 105,163 shares of the company’s stock worth $6,734,000 after purchasing an additional 25,041 shares during the period. Finally, Intech Investment Management LLC purchased a new position in BRP during the second quarter worth approximately $209,000.

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.