BRP (TSE:DOO) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

BRP (TSE:DOO) had its target price boosted by analysts at Royal Bank Of Canada from C$107.00 to C$113.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 43.29% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, March 27th. Seaport Research Partners cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Canaccord Genuity Group cut shares of BRP from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Citigroup lowered their price objective on shares of BRP from C$75.00 to C$74.00 and set a “buy” rating on the stock in a research note on Friday. Finally, TD increased their price objective on shares of BRP from C$84.00 to C$92.00 and gave the company a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$98.33.

BRP Price Performance

Shares of TSE:DOO traded down C$2.07 on Friday, reaching C$78.86. 160,259 shares of the company were exchanged, compared to its average volume of 296,492. The company has a current ratio of 1.27, a quick ratio of 0.20 and a debt-to-equity ratio of 443.59. BRP has a 1-year low of C$53.60 and a 1-year high of C$112.26. The firm has a market cap of C$5.81 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The company has a 50-day moving average of C$84.75 and a 200-day moving average of C$94.93.

BRP (TSE:DOO) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 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$2.39 billion for the quarter. Equities analysts forecast that BRP will post 6.890971 earnings per share for the current fiscal year.

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).