BRP (TSE:DOO) Upgraded at Citigroup

Citigroup upgraded shares of BRP (TSE:DOO) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat reports. Citigroup currently has C$102.00 price objective on the stock, up from their previous price objective of C$93.00.

Several other brokerages have also weighed in on DOO. Royal Bank Of Canada raised their target price on BRP from C$68.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Cibc World Mkts raised BRP from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 1st. Canaccord Genuity Group raised BRP from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$80.00 to C$108.00 in a research report on Tuesday, September 2nd. TD Securities lifted their price target on BRP from C$87.00 to C$107.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Finally, BMO Capital Markets lifted their price target on BRP from C$75.00 to C$105.00 in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, BRP has a consensus rating of “Moderate Buy” and a consensus target price of C$92.38.

BRP Price Performance

Shares of TSE DOO 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. BRP has a fifty-two week low of C$43.88 and a fifty-two week high of C$94.96. The firm has a market capitalization of C$6.94 billion, a PE ratio of -189.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. The stock’s 50-day simple moving average is C$81.80 and its 200-day simple moving average is C$65.53.

BRP Dividend Announcement

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

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.