BRP (TSE:DOO) Given New C$90.00 Price Target at Canadian Imperial Bank of Commerce

BRP (TSE:DOO) had its price target decreased by equities research analysts at Canadian Imperial Bank of Commerce from C$118.00 to C$90.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 18.42% from the stock’s current price.

DOO has been the subject of a number of other research reports. TD set a C$84.00 price objective on shares of BRP and gave the company a “hold” rating in a research note on Thursday. Canaccord Genuity Group downgraded shares of BRP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$118.00 to C$90.00 in a research note on Wednesday, April 15th. Ci Capital lowered their price objective on shares of BRP from C$128.00 to C$119.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Raymond James Financial cut BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. Finally, National Bank Financial cut BRP from an “outperform” rating to a “hold” rating and reduced their target price for the company from C$125.00 to C$80.00 in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$103.33.

BRP Price Performance

Shares of TSE:DOO traded up C$0.60 during midday trading on Thursday, hitting C$76.00. 141,724 shares of the stock were exchanged, compared to its average volume of 298,804. The company has a 50 day moving average price of C$85.93 and a 200-day moving average price of C$95.35. BRP has a twelve month low of C$48.50 and a twelve month high of C$112.26. The stock has a market cap of C$5.60 billion, a P/E ratio of 19.24, a PEG ratio of 2.05 and a beta of 1.03. 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 (TSE:DOO) last announced 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 firm had revenue of C$2.46 billion during the quarter. On average, research analysts forecast that BRP will post 6.890971 earnings per share for the current 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).