Robert W. Baird Reaffirms “Neutral” Rating for BRP (NASDAQ:DOOO)

Robert W. Baird reiterated their neutral rating on shares of BRP (NASDAQ:DOOO) in a report published on Friday, Marketbeat Ratings reports. Robert W. Baird currently has a $43.00 price target on the stock, down from their previous price target of $48.00.

Several other equities analysts have also recently commented on the stock. Raymond James reissued a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. Citigroup upgraded shares of BRP from a “sell” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $37.00 in a research note on Friday. Finally, TD Securities restated a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Nine analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.25.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $35.36 on Friday. BRP has a 12-month low of $33.05 and a 12-month high of $74.00. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The company has a market cap of $2.58 billion, a PE ratio of 18.81 and a beta of 1.71. The stock has a 50 day simple moving average of $40.77 and a 200-day simple moving average of $48.50.

BRP (NASDAQ:DOOO) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, equities research analysts forecast that BRP will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a $0.1508 dividend. This is an increase from BRP’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, April 4th. BRP’s payout ratio is presently -29.21%.

Institutional Trading of BRP

A number of large investors have recently added to or reduced their stakes in DOOO. Mackenzie Financial Corp lifted its position in shares of BRP by 71.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after acquiring an additional 684,651 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of BRP by 401.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock worth $765,000 after purchasing an additional 12,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BRP by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock valued at $1,823,000 after purchasing an additional 293 shares during the last quarter. Turtle Creek Asset Management Inc. boosted its position in shares of BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after purchasing an additional 668,607 shares during the period. Finally, Systematic Financial Management LP increased its stake in BRP by 5.4% in the 4th quarter. Systematic Financial Management LP now owns 202,425 shares of the company’s stock worth $10,297,000 after purchasing an additional 10,341 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.