Scotiabank Issues Pessimistic Forecast for BRP (TSE:DOO) Stock Price

BRP (TSE:DOO) had its price objective decreased by equities research analysts at Scotiabank from C$91.00 to C$86.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 14.68% from the company’s previous close.

Several other equities research analysts have also recently weighed in on DOO. Citigroup lowered their price objective on shares of BRP from C$110.00 to C$101.00 in a research report on Monday, September 9th. CIBC reduced their price objective on shares of BRP from C$92.00 to C$82.00 and set a “neutral” rating on the stock in a research note on Monday. BMO Capital Markets cut their price objective on shares of BRP from C$115.00 to C$100.00 in a research report on Monday, September 9th. Stifel Nicolaus cut their price objective on shares of BRP from C$82.00 to C$78.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Raymond James cut their price objective on shares of BRP from C$100.00 to C$98.00 in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, BRP currently has an average rating of “Hold” and an average target price of C$90.50.

BRP Stock Up 3.1 %

Shares of DOO traded up C$2.24 during mid-day trading on Monday, hitting C$74.99. 146,601 shares of the company’s stock were exchanged, compared to its average volume of 222,060. The firm has a fifty day moving average of C$72.44 and a two-hundred day moving average of C$83.99. BRP has a twelve month low of C$65.32 and a twelve month high of C$102.46. The stock has a market cap of C$2.59 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.05 and a beta of 2.28. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.31. BRP had a net margin of 2.77% and a return on equity of 37.60%. The business had revenue of C$1.84 billion for the quarter, compared to analyst estimates of C$1.85 billion. On average, sell-side analysts forecast that BRP will post 6.890971 earnings per share for the current year.

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.