Robert W. Baird Reiterates "Neutral" Rating for BRP (NASDAQ:DOOO)

Robert W. Baird reaffirmed their neutral rating on shares of BRP (NASDAQ:DOOO - Free Report) in a research report report published on Friday morning, Marketbeat reports. Robert W. Baird currently has a $43.00 price objective on the stock, down from their prior price objective of $48.00.

Other equities analysts have also issued research reports about the company. Citigroup upgraded BRP from a "sell" rating to a "neutral" rating and raised their price target for the company from $27.00 to $37.00 in a research note on Friday, April 4th. TD Securities reissued a "hold" rating on shares of BRP in a research report on Thursday, March 27th. Finally, Raymond James restated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Ten investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, BRP presently has an average rating of "Hold" and a consensus price target of $61.25.

BRP Trading Up 8.0 %

DOOO stock traded up $2.67 during trading on Friday, hitting $35.85. The company had a trading volume of 122,273 shares, compared to its average volume of 149,202. BRP has a 52-week low of $32.24 and a 52-week high of $74.00. The company has a 50 day simple moving average of $39.76 and a 200-day simple moving average of $48.01. The firm has a market capitalization of $2.62 billion, a P/E ratio of 18.54 and a beta of 1.71. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

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. BRP had a net margin of 2.29% and a return on equity of 61.20%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. As a group, research analysts forecast that BRP will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a $0.1508 dividend. The ex-dividend date is Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is presently -29.21%.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC grew its stake in BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after buying an additional 903 shares during the last quarter. Dnca Finance increased its position in BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock valued at $71,000 after buying an additional 369 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in BRP in the 4th quarter worth approximately $77,000. Finally, Intact Investment Management Inc. purchased a new stake in BRP during the 4th quarter worth approximately $148,000.

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.