BRP Inc (DOO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of BRP Inc (TSE:DOO) have received an average rating of “Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$56.56.

A number of equities research analysts have issued reports on DOO shares. National Bank Financial downgraded shares of BRP from an “outperform overweight” rating to a “sector perform overweight” rating and increased their target price for the stock from C$52.00 to C$54.00 in a research report on Wednesday, February 14th. Desjardins increased their target price on shares of BRP from C$54.00 to C$58.00 and gave the stock a “buy” rating in a research report on Friday, March 23rd. BMO Capital Markets increased their target price on shares of BRP from C$54.00 to C$56.00 and gave the stock an “outperform” rating in a research report on Thursday, March 22nd. CIBC increased their target price on shares of BRP from C$54.00 to C$56.00 in a research report on Thursday, March 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a C$49.00 target price on shares of BRP in a research report on Wednesday, March 14th.

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DOO stock traded down C$0.78 during midday trading on Thursday, reaching C$56.29. The company had a trading volume of 178,987 shares, compared to its average volume of 186,982. BRP has a 1 year low of C$31.37 and a 1 year high of C$57.35.

BRP (TSE:DOO) last released its earnings results on Wednesday, March 21st. The company reported C$0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.90 by C$0.06. The company had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.23 billion.

In other news, insider Anne-Marie Laberge sold 7,325 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of C$50.58, for a total transaction of C$370,498.50.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and propulsion systems worldwide. The company offers all-terrain, side-by-side, and spyder vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircrafts.