Citigroup Upgrades BRP (NASDAQ:DOOO) to "Neutral"

Citigroup upgraded shares of BRP (NASDAQ:DOOO - Free Report) from a sell rating to a neutral rating in a research note published on Friday, Marketbeat.com reports. Citigroup currently has $37.00 price target on the stock, up from their previous price target of $27.00.

Several other research firms have also issued reports on DOOO. Raymond James reiterated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. TD Securities reiterated a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Ten investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, BRP presently has a consensus rating of "Hold" and an average target price of $61.25.

BRP Price Performance

DOOO stock traded up $2.67 during mid-day trading on Friday, hitting $35.85. 122,273 shares of the stock were exchanged, compared to its average volume of 149,202. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 18.54 and a beta of 1.71. The business has a fifty day moving average price of $39.76 and a 200 day moving average price of $48.01. BRP has a 12 month low of $32.24 and a 12 month high of $74.00.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, sell-side analysts anticipate that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.1508 per share. The ex-dividend date is Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.68%. This is a boost from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio is currently -29.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock valued at $7,270,000 after buying an additional 16,379 shares during the period. Alberta Investment Management Corp raised its holdings in BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock worth $2,408,000 after purchasing an additional 14,500 shares during the period. Van ECK Associates Corp increased its position in BRP by 699.9% in the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock worth $3,875,000 after buying an additional 66,627 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of BRP by 8.3% in the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock worth $12,978,000 after buying an additional 15,892 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its position in shares of BRP by 227.2% during the 4th quarter. Landscape Capital Management L.L.C. now owns 53,492 shares of the company's stock valued at $2,721,000 after buying an additional 37,143 shares in the last quarter.

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.