BRP Inc. (NASDAQ:DOOO) Given Consensus Recommendation of “Reduce” by Brokerages

BRP Inc. (NASDAQ:DOOO) has been given an average recommendation of “Reduce” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $82.25.

Separately, Citigroup reaffirmed a “sell” rating and set a $27.00 price target (down previously from $29.00) on shares of BRP in a report on Friday.

BRP Price Performance

BRP stock opened at $33.81 on Tuesday. The firm has a market cap of $2.47 billion, a PE ratio of 17.98 and a beta of 2.03. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The stock’s fifty day moving average price is $42.17 and its two-hundred day moving average price is $49.21. BRP has a one year low of $33.05 and a one year high of $75.59.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, research analysts expect that BRP will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be paid a $0.1508 dividend. This is an increase from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, April 4th. BRP’s dividend payout ratio (DPR) is presently -29.21%.

Hedge Funds Weigh In On BRP

Institutional investors have recently added to or reduced their stakes in the stock. Turtle Creek Asset Management Inc. boosted its position in BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after buying an additional 668,607 shares in the last quarter. Capital World Investors boosted its holdings in shares of BRP by 101.2% during the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock valued at $100,386,000 after acquiring an additional 991,392 shares in the last quarter. Mackenzie Financial Corp grew its position in BRP by 71.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock worth $83,399,000 after acquiring an additional 684,651 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in BRP by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company’s stock worth $77,223,000 after acquiring an additional 288,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after purchasing an additional 150,039 shares in the last quarter.

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.