Canaccord Genuity Group Issues Pessimistic Forecast for BRP (TSE:DOO) Stock Price

BRP (TSE:DOO) had its price target cut by equities researchers at Canaccord Genuity Group from C$88.00 to C$80.00 in a report issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would indicate a potential upside of 18.31% from the company’s current price.

Several other equities research analysts have also recently issued reports on DOO. Cibc World Mkts cut shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Royal Bank of Canada reduced their price objective on BRP from C$108.00 to C$99.00 in a research report on Monday, September 9th. TD Securities dropped their target price on BRP from C$95.00 to C$81.00 and set a “hold” rating on the stock in a research report on Tuesday. Citigroup reduced their price target on shares of BRP from C$110.00 to C$101.00 in a research report on Monday, September 9th. Finally, CIBC downgraded shares of BRP from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from C$100.00 to C$92.00 in a report on Monday, September 9th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, BRP presently has a consensus rating of “Hold” and an average price target of C$92.69.

BRP Price Performance

Shares of DOO opened at C$67.62 on Wednesday. BRP has a twelve month low of C$65.32 and a twelve month high of C$102.46. The company has a market capitalization of C$2.33 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.05 and a beta of 2.28. The firm has a 50 day moving average of C$74.00 and a 200 day moving average of C$85.11. The company has a quick ratio of 0.20, a current ratio of 1.32 and a debt-to-equity ratio of 545.75.

BRP (TSE:DOO) last posted its earnings results on Friday, September 6th. The company reported C$0.61 EPS for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.31. The business had revenue of C$1.84 billion during the quarter, compared to analyst estimates of C$1.85 billion. BRP had a return on equity of 37.60% and a net margin of 2.77%. As a group, equities research analysts anticipate that BRP will post 6.890971 earnings per share for the current fiscal year.

BRP Company Profile

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.