BRP (TSE:DOO) Lowered to Hold Rating by Seaport Research Partners

Seaport Research Partners downgraded shares of BRP (TSE:DOO) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

DOO has been the topic of a number of other reports. National Bank Financial lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Desjardins boosted their price target on shares of BRP from C$130.00 to C$138.00 and gave the company a “buy” rating in a research report on Friday, March 27th. BMO Capital Markets boosted their price target on shares of BRP from C$115.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, March 27th. TD lowered shares of BRP from a “buy” rating to a “hold” rating and reduced their price target for the company from C$119.00 to C$84.00 in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of BRP from C$105.00 to C$110.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, BRP currently has an average rating of “Moderate Buy” and an average target price of C$111.20.

BRP Price Performance

Shares of BRP stock opened at C$69.83 on Wednesday. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27. The firm’s 50-day simple moving average is C$98.41 and its 200-day simple moving average is C$97.78. BRP has a twelve month low of C$43.88 and a twelve month high of C$112.26. The firm has a market cap of C$5.11 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94.

BRP (TSE:DOO) last issued its earnings results on Thursday, March 26th. The company reported C$2.21 earnings per share for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. The business had revenue of C$2.46 billion for the quarter. As a group, research analysts expect that BRP will post 6.890971 EPS for the current fiscal year.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, April 24th will be given a $0.25 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. BRP’s payout ratio is 21.77%.

BRP News Roundup

Here are the key news stories impacting BRP this week:

• Positive Sentiment: Analysts’ revised price targets still imply meaningful upside versus the current price (Canaccord C$90, TD C$84), which could limit downside and support a recovery if operational results remain steady. Analyst Ratings Summary
• Neutral Sentiment: Recent fundamentals remain intact: Q1 report showed C$2.21 EPS and ~C$2.46B revenue; valuation metrics (P/E ~17.7) and long-term upside per analyst models may temper immediate downside. Market Data
• Negative Sentiment: Canaccord Genuity downgraded BRP from “buy” to “hold” and cut its price target to C$90 from C$118 — a materially lower endorsement that increases near-term selling pressure. BRP Downgraded to Hold by Canaccord
• Negative Sentiment: TD also downgraded BRP from “buy” to “hold” and reduced its target to C$84 from C$119, reinforcing the negative analyst momentum and contributing to weaker investor sentiment. BRP Downgraded to Hold by TD

About BRP

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).