BRP (NASDAQ:DOOO) Stock Rating Reaffirmed by Desjardins

BRP (NASDAQ:DOOOGet Rating)‘s stock had its “buy” rating reaffirmed by equities researchers at Desjardins in a research report issued on Monday, Zacks.com reports. Desjardins also issued estimates for BRP’s Q2 2023 earnings at $2.01 EPS, Q3 2023 earnings at $2.23 EPS, Q4 2023 earnings at $3.25 EPS, FY2023 earnings at $8.80 EPS and FY2024 earnings at $9.11 EPS.

Several other equities analysts also recently weighed in on DOOO. Scotiabank cut their price target on shares of BRP from C$133.00 to C$126.00 in a report on Monday. Stifel Nicolaus dropped their price objective on shares of BRP from C$150.00 to C$145.00 in a research note on Monday. National Bank Financial raised their price objective on shares of BRP from C$124.00 to C$136.00 in a research note on Monday, March 28th. Zacks Investment Research cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Monday, May 30th. Finally, Canaccord Genuity Group raised their price objective on shares of BRP from C$130.00 to C$136.00 in a research note on Monday, March 28th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $128.56.

Shares of NASDAQ:DOOO opened at $67.54 on Monday. BRP has a twelve month low of $57.38 and a twelve month high of $102.96. The company’s 50 day moving average is $78.93 and its 200 day moving average is $78.06. The company has a market cap of $5.47 billion, a PE ratio of 10.65 and a beta of 2.53.

BRP (NASDAQ:DOOOGet Rating) last issued its quarterly earnings results on Friday, June 3rd. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.85. BRP had a net margin of 8.79% and a negative return on equity of 290.54%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $2.00 EPS. BRP’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that BRP will post 8.71 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in BRP by 107.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 121,866 shares of the company’s stock valued at $9,994,000 after purchasing an additional 63,080 shares in the last quarter. Mirabella Financial Services LLP lifted its holdings in BRP by 70.8% in the 1st quarter. Mirabella Financial Services LLP now owns 9,767 shares of the company’s stock valued at $801,000 after purchasing an additional 4,047 shares in the last quarter. Jane Street Group LLC lifted its holdings in BRP by 1,253.5% in the 1st quarter. Jane Street Group LLC now owns 63,518 shares of the company’s stock valued at $5,198,000 after purchasing an additional 58,825 shares in the last quarter. Gluskin Sheff & Assoc Inc. lifted its holdings in BRP by 0.7% in the 1st quarter. Gluskin Sheff & Assoc Inc. now owns 375,620 shares of the company’s stock valued at $30,761,000 after purchasing an additional 2,760 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in BRP by 22.2% in the 1st quarter. 1832 Asset Management L.P. now owns 88,175 shares of the company’s stock valued at $7,130,000 after purchasing an additional 16,045 shares in the last quarter. Institutional investors own 54.38% of the company’s stock.

About BRP (Get Rating)

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The company operates through two segments, Powersports and Marine. It offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, such as snowmobiles and personal watercraft; and engines for jet boats, outboards, karts, motorcycles, and recreational aircraft.

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