Desjardins Increases BRP Inc (DOO) Price Target to C$46.00

BRP Inc (TSE:DOO) had its price objective raised by Desjardins from C$44.00 to C$46.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 16.78% from the company’s previous close.

Several other brokerages have also commented on DOO. Northcoast Research lowered shares of BRP from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Scotiabank raised their target price on shares of BRP from C$33.00 to C$41.00 and gave the company an “outperform” rating in a research note on Friday, June 2nd. CIBC raised their target price on shares of BRP from C$34.00 to C$42.00 in a research note on Friday, June 2nd. BMO Capital Markets raised their target price on shares of BRP from C$38.00 to C$44.00 and gave the company an “outperform” rating in a research note on Friday, June 2nd. Finally, National Bank Financial upgraded shares of BRP from a “sector perform under weight” rating to an “outperfrom under weight” rating in a research note on Thursday, June 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. BRP has an average rating of “Buy” and an average target price of C$37.88.

Shares of BRP (DOO) opened at 39.39 on Wednesday. The company’s 50-day moving average is $38.47 and its 200-day moving average is $31.54. The stock has a market capitalization of $4.40 billion and a PE ratio of 34.74. BRP has a 12 month low of $20.85 and a 12 month high of $40.55.

BRP (TSE:DOO) last announced its quarterly earnings results on Friday, June 9th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.15. BRP had a negative net margin of 1.93% and a negative return on equity of 47.28%. The company had revenue of $956.20 million for the quarter, compared to analyst estimates of $1.03 billion. Equities research analysts expect that BRP will post $2.37 earnings per share for the current fiscal year.

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In other BRP news, Director Michael Hanley sold 5,100 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of C$40.30, for a total value of C$205,530.00. Also, insider Bernard Guy sold 13,293 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of C$39.00, for a total transaction of C$518,427.00. Insiders sold a total of 24,693 shares of company stock worth $970,447 over the last 90 days.

About BRP

BRP Inc is engaged in the design, development, manufacturing, distribution and marketing of power sports vehicles and propulsion systems. The Company manufactures and sells Year-Round Products consisting of all-terrain vehicles (ATVs), side-by-side vehicles (SSVs) and roadsters; Seasonal Products consisting of snowmobiles and personal watercrafts (PWCs), and Propulsion Products consisting of engines for outboard and jet boats, karts, motorcycles and recreational aircraft.

Analyst Recommendations for BRP (TSE:DOO)

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