BRP (TSE:DOO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

BRP Inc. (TSE:DOO)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$92.94 and traded as low as C$80.52. BRP shares last traded at C$81.98, with a volume of 266,865 shares trading hands.

Wall Street Analysts Forecast Growth

DOO has been the subject of several research reports. Scotia reduced their price target on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating for the company in a research report on Thursday, April 16th. Canaccord Genuity Group downgraded shares of BRP from a “buy” rating to a “hold” rating and reduced their target price for the company from C$118.00 to C$90.00 in a research report on Wednesday, April 15th. Desjardins lifted their price target on shares of BRP from C$97.00 to C$103.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$92.00 to C$85.00 in a report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce boosted their target price on BRP from C$90.00 to C$94.00 and gave the company an “outperformer” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, BRP currently has an average rating of “Moderate Buy” and an average target price of C$98.73.

BRP Price Performance

The business’s 50 day moving average is C$80.78 and its two-hundred day moving average is C$92.87. The company has a debt-to-equity ratio of 419.45, a quick ratio of 0.20 and a current ratio of 1.30. The firm has a market capitalization of C$6.11 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92.

BRP (TSE:DOO) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a return on equity of 46.01% and a net margin of 3.01%.The firm had revenue of C$2.39 billion during the quarter. Equities research analysts anticipate that BRP Inc. will post 6.890971 earnings per share for the current fiscal year.

BRP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, April 10th. BRP’s payout ratio is presently 24.45%.

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).