BRP (TSE:DOO) Share Price Breaks Above 200-Day Moving Average – What’s Next?

BRP Inc. (TSE:DOO) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$88.23 and traded as high as C$93.92. BRP shares last traded at C$93.81, with a volume of 425,746 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD upgraded BRP from a “hold” rating to a “buy” rating and increased their target price for the company from C$92.00 to C$106.00 in a research note on Wednesday, August 19th. National Bank Financial raised BRP from a “hold” rating to an “outperform” rating and upped their price target for the company from C$98.00 to C$112.00 in a research report on Thursday, September 3rd. Citigroup raised their price target on shares of BRP from C$106.00 to C$110.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Finally, TD Securities upgraded BRP from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, BRP currently has an average rating of “Moderate Buy” and a consensus price target of C$103.93.

BRP Stock Performance

The firm has a market capitalization of C$6.67 billion, a PE ratio of 62.13, a P/E/G ratio of 2.05 and a beta of 0.79. The company has a debt-to-equity ratio of 912.53, a current ratio of 1.19 and a quick ratio of 0.20. The firm has a fifty day moving average price of C$82.21 and a 200 day moving average price of C$88.23.

BRP (TSE:DOO) last announced its earnings results on Thursday, September 3rd. The company reported C($0.18) EPS for the quarter. The firm had revenue of C$2.24 billion during the quarter. BRP had a return on equity of 20.51% and a net margin of 1.21%. Research analysts anticipate that BRP Inc. will post 6.89 earnings per share for the current fiscal year.

BRP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Investors of record on Tuesday, October 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. BRP’s dividend payout ratio (DPR) is currently 61.59%.

BRP Company Profile

BRP Inc is a global leader in the world of powersports products and powertrains, built on over 80 years of ingenuity, innovation, and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on- and off-road vehicles, Quintrex boats as well as Rotax engines for karts, recreational aircraft and jet boats, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds.