BRP (NASDAQ:DOOO) Given New $75.00 Price Target at Citigroup

BRP (NASDAQ:DOOO) had its price objective lowered by Citigroup from $80.00 to $75.00 in a research note published on Monday, Benzinga reports. Citigroup currently has a buy rating on the stock.

DOOO has been the subject of several other reports. CIBC cut their price objective on BRP from $110.00 to $100.00 and set an outperformer rating for the company in a report on Monday, June 3rd. National Bank Financial lowered BRP from an outperform rating to a sector perform rating in a report on Wednesday, August 21st. Scotiabank downgraded shares of BRP from a sector outperform rating to a sector perform rating in a research report on Monday. Finally, Stifel Nicolaus lowered BRP from a buy rating to a hold rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $113.40.

BRP Price Performance

Shares of NASDAQ:DOOO opened at $58.67 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.46 and a debt-to-equity ratio of 4.23. BRP has a 1 year low of $57.15 and a 1 year high of $79.40. The business has a fifty day simple moving average of $68.09 and a 200 day simple moving average of $66.95. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 10.61 and a beta of 2.07.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.152 per share. The ex-dividend date is Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 1.04%. BRP’s dividend payout ratio (DPR) is currently 11.21%.

Hedge Funds Weigh In On BRP

Institutional investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd increased its stake in shares of BRP by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after purchasing an additional 200 shares during the period. Trivant Custom Portfolio Group LLC bought a new position in shares of BRP in the first quarter worth about $50,000. Dnca Finance bought a new position in shares of BRP in the second quarter worth about $66,000. Clearbridge Investments LLC bought a new position in shares of BRP in the fourth quarter worth about $211,000. Finally, M&T Bank Corp bought a new position in shares of BRP in the fourth quarter worth about $222,000.

About BRP

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 Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.