BRP (NASDAQ:DOOO) Upgraded at Citigroup

Citigroup upgraded shares of BRP (NASDAQ:DOOO) from a sell rating to a neutral rating in a report issued on Friday, MarketBeat.com reports. Citigroup currently has $37.00 price objective on the stock, up from their prior price objective of $27.00.

Several other research firms have also weighed in on DOOO. Raymond James reiterated a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. TD Securities restated a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.25.

BRP Trading Down 0.1 %

NASDAQ DOOO opened at $35.36 on Friday. BRP has a 12 month low of $33.05 and a 12 month high of $74.00. The stock has a 50-day simple moving average of $40.77 and a 200 day simple moving average of $48.50. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $2.58 billion, a PE ratio of 18.81 and a beta of 1.71.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.97 billion. Research analysts forecast that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a dividend of $0.1508 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from BRP’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, April 4th. BRP’s dividend payout ratio (DPR) is presently -29.21%.

Institutional Investors Weigh In On BRP

Institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in shares of BRP by 259.3% in the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock valued at $35,000 after purchasing an additional 490 shares during the period. Signaturefd LLC grew its holdings in shares of BRP by 296.1% during the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after buying an additional 903 shares in the last quarter. Dnca Finance raised its position in BRP by 36.1% in the 4th quarter. Dnca Finance now owns 1,390 shares of the company’s stock valued at $71,000 after buying an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in BRP in the 4th quarter valued at approximately $77,000. Finally, Intact Investment Management Inc. bought a new stake in BRP in the 4th quarter valued at approximately $148,000.

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.