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

by · The Cerbat Gem

BRP (TSE:DOO – Get Free Report) had its price target boosted by research analysts at Scotiabank from C$80.00 to C$83.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 5.25% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Raymond James Financial downgraded shares of BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada decreased their price target on shares of BRP from C$124.00 to C$107.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. TD Securities downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Canaccord Genuity Group downgraded shares of BRP from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Finally, Canadian Imperial Bank of Commerce decreased their price target on shares of BRP from C$118.00 to C$90.00 and set an “outperformer” rating for the company in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, BRP currently has a consensus rating of “Moderate Buy” and a consensus target price of C$98.33.

View Our Latest Research Report on BRP

BRP Trading Down 2.6%

Shares of TSE:DOO traded down C$2.07 during midday trading on Friday, hitting C$78.86. 160,259 shares of the stock traded hands, compared to its average volume of 296,492. The stock has a market capitalization of C$5.81 billion, a PE ratio of 19.96, a P/E/G ratio of 2.05 and a beta of 1.03. The business’s 50 day moving average is C$84.75 and its two-hundred day moving average is C$94.93. The company has a quick ratio of 0.20, a current ratio of 1.27 and a debt-to-equity ratio of 443.59. BRP has a one year low of C$53.60 and a one year high of C$112.26.

BRP (TSE:DOO – Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. The firm had revenue of C$2.39 billion during the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. As a group, research analysts forecast that BRP will post 6.890971 earnings per share for the current year.

About BRP

(Get Free Report)

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).

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