Desjardins Forecasts Strong Price Appreciation for BRP (TSE:DOO) Stock

BRP (TSE:DOO) had its target price lifted by research analysts at Desjardins from C$130.00 to C$138.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price suggests a potential upside of 49.67% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. TD Securities increased their price objective on shares of BRP from C$106.00 to C$119.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Canadian Imperial Bank of Commerce increased their target price on BRP from C$115.00 to C$118.00 and gave the company an “outperform” rating in a report on Friday, December 5th. National Bank Financial raised BRP from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$105.00 to C$125.00 in a report on Friday, December 5th. Wells Fargo & Company upped their price objective on BRP from C$105.00 to C$110.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Citigroup raised their target price on BRP from C$122.00 to C$128.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$116.29.

BRP Stock Down 0.9%

Shares of BRP stock traded down C$0.88 on Friday, reaching C$92.20. 144,328 shares of the company were exchanged, compared to its average volume of 214,371. BRP has a 1-year low of C$43.88 and a 1-year high of C$112.26. The company has a market cap of C$6.74 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The company has a debt-to-equity ratio of 489.75, a current ratio of 1.23 and a quick ratio of 0.20. The stock’s 50 day moving average price is C$100.73 and its 200-day moving average price is C$96.55.

BRP (TSE:DOO) last issued 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 0.30% and a return on equity of 5.55%. The firm had revenue of C$2.46 billion for the quarter. As a group, equities analysts forecast that BRP will post 6.890971 EPS for the current year.

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).