BRP (NASDAQ:DOOO) Price Target Increased to C$138.00 by Analysts at CIBC

BRP (NASDAQ:DOOO) had its target price lifted by equities research analysts at CIBC from C$137.00 to C$138.00 in a report released on Friday, FlyOnTheWall reports.

Several other brokerages have also recently issued reports on DOOO. TD Securities lifted their target price on BRP from C$110.00 to C$115.00 in a research report on Friday. Scotiabank lifted their target price on BRP from C$142.00 to C$145.00 in a research report on Friday. BMO Capital Markets cut their target price on BRP from C$154.00 to C$150.00 in a research report on Friday. Raymond James cut their target price on BRP from C$139.00 to C$124.00 in a research report on Friday, June 2nd. Finally, DA Davidson raised BRP from a “neutral” rating to a “buy” rating and lifted their target price for the company from $111.00 to $126.00 in a research report on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.91.

BRP Stock Up 1.0 %

Shares of NASDAQ DOOO traded up $0.70 during midday trading on Friday, hitting $74.08. 47,385 shares of the stock traded hands, compared to its average volume of 55,649. The company has a market cap of $5.78 billion, a PE ratio of 8.82 and a beta of 2.29. BRP has a one year low of $58.71 and a one year high of $92.74. The business has a 50 day moving average price of $82.79 and a two-hundred day moving average price of $79.47. The company has a debt-to-equity ratio of 4.80, a quick ratio of 0.39 and a current ratio of 1.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of BRP by 36.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 604,932 shares of the company’s stock valued at $51,177,000 after buying an additional 162,213 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of BRP by 69.4% during the 2nd quarter. Lazard Asset Management LLC now owns 311,928 shares of the company’s stock valued at $26,388,000 after buying an additional 127,764 shares during the last quarter. Royal Bank of Canada raised its stake in shares of BRP by 6.1% during the 2nd quarter. Royal Bank of Canada now owns 439,684 shares of the company’s stock valued at $37,198,000 after purchasing an additional 25,457 shares during the period. Beutel Goodman & Co Ltd. raised its stake in shares of BRP by 13.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 3,763,837 shares of the company’s stock valued at $318,543,000 after purchasing an additional 440,782 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of BRP by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 34,228 shares of the company’s stock valued at $2,896,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 26.68% of the company’s stock.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.