CIBC Cuts BRP (TSE:DOO) Price Target to C$82.00

BRP (TSE:DOO) had its price objective decreased by CIBC from C$92.00 to C$82.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target suggests a potential upside of 9.35% from the stock’s previous close.

Several other brokerages have also commented on DOO. Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. TD Securities upped their price target on BRP from C$81.00 to C$83.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank lowered BRP from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$103.00 to C$91.00 in a research note on Monday, September 9th. Stifel Nicolaus lowered their target price on BRP from C$82.00 to C$78.00 and set a “hold” rating for the company in a research note on Monday. Finally, Citigroup lowered their price objective on BRP from C$110.00 to C$101.00 in a research note on Monday, September 9th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, BRP has an average rating of “Hold” and an average target price of C$90.50.

BRP Stock Performance

DOO traded up C$2.24 during trading on Monday, hitting C$74.99. 146,601 shares of the stock were exchanged, compared to its average volume of 222,060. The firm has a market capitalization of C$2.59 billion, a P/E ratio of 22.72, a PEG ratio of 2.05 and a beta of 2.28. BRP has a 1-year low of C$65.32 and a 1-year high of C$102.46. The stock has a fifty day moving average price of C$72.44 and a two-hundred day moving average price of C$83.99. 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 released its quarterly earnings results on Friday, September 6th. The company reported C$0.61 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.31. The company had revenue of C$1.84 billion during the quarter, compared to analysts’ expectations of C$1.85 billion. BRP had a return on equity of 37.60% and a net margin of 2.77%. As a group, sell-side analysts predict that BRP will post 6.890971 earnings per share for the current 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.