BRP (TSE:DOO) Sets New 1-Year High on Analyst Upgrade

BRP Inc. (TSE:DOO)’s share price hit a new 52-week high on Wednesday after Citigroup raised their price target on the stock from C$122.00 to C$128.00. Citigroup currently has a buy rating on the stock. BRP traded as high as C$108.16 and last traded at C$107.74, with a volume of 263644 shares traded. The stock had previously closed at C$102.24.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group upped their price objective on BRP from C$116.00 to C$118.00 in a research report on Friday, December 5th. Desjardins upped their price target on BRP from C$117.00 to C$130.00 and gave the company a “buy” rating in a report on Friday, December 5th. Royal Bank Of Canada increased their price target on shares of BRP from C$107.00 to C$131.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. National Bankshares raised shares of BRP from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$105.00 to C$125.00 in a report on Friday, December 5th. Finally, Scotiabank upped their target price on shares of BRP from C$102.00 to C$117.00 and gave the company a “sector perform” rating in a report on Friday, December 5th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, BRP has a consensus rating of “Buy” and a consensus target price of C$111.33.

BRP Trading Up 5.4%

The company has a debt-to-equity ratio of 573.79, a quick ratio of 0.20 and a current ratio of 1.37. The stock has a market capitalization of C$7.91 billion, a PE ratio of 326.48, a price-to-earnings-growth ratio of 2.05 and a beta of 1.25. The business’s 50-day moving average is C$97.43 and its two-hundred day moving average is C$86.94.

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).