Royal Bank Of Canada Has Lowered Expectations for BRP (TSE:DOO) Stock Price

BRP (TSE:DOO) had its price target lowered by stock analysts at Royal Bank Of Canada from C$124.00 to C$107.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 31.63% from the stock’s current price.

Several other brokerages also recently issued reports on DOO. Seaport Research Partners downgraded BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Desjardins cut their price objective on BRP from C$138.00 to C$97.00 and set a “buy” rating for the company in a research report on Thursday. National Bank Financial downgraded BRP from an “outperform” rating to a “hold” rating and cut their price objective for the stock from C$125.00 to C$80.00 in a research report on Wednesday, April 15th. Raymond James Financial cut their price objective on BRP from C$117.00 to C$115.00 in a research report on Friday, March 27th. Finally, TD Securities downgraded BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$101.75.

BRP Price Performance

Shares of DOO stock traded up C$2.12 during midday trading on Monday, reaching C$81.29. 341,082 shares of the company traded hands, compared to its average volume of 286,065. The firm’s 50 day simple moving average is C$97.27 and its two-hundred day simple moving average is C$97.74. BRP has a 1-year low of C$43.88 and a 1-year high of C$112.26. The company has a debt-to-equity ratio of 443.59, a current ratio of 1.27 and a quick ratio of 0.20. The firm has a market cap of C$5.94 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94.

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

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. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).