BRP (TSE:DOO) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

BRP Inc. (TSE:DOO)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$92.94 and traded as low as C$80.52. BRP shares last traded at C$81.98, with a volume of 266,865 shares.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Ci Capital decreased their price target on shares of BRP from C$128.00 to C$119.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Wells Fargo & Company lifted their price objective on shares of BRP from C$105.00 to C$110.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Scotia reduced their price objective on shares of BRP from C$117.00 to C$80.00 and set a “sector perform” rating for the company in a research note on Thursday, April 16th. TD increased their target price on shares of BRP from C$84.00 to C$92.00 and gave the company a “hold” rating in a research report on Friday, May 29th. Finally, Raymond James Financial downgraded BRP from a “strong-buy” rating to a “market perform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, BRP presently has an average rating of “Moderate Buy” and a consensus price target of C$98.73.

BRP Trading Down 5.4%

The stock’s fifty day simple moving average is C$80.67 and its 200-day simple moving average is C$92.94. The firm has a market cap of C$6.05 billion, a PE ratio of 22.40, a PEG ratio of 2.05 and a beta of 0.92. The company has a debt-to-equity ratio of 419.45, a current ratio of 1.30 and a quick ratio of 0.20.

BRP (TSE:DOO) last issued its quarterly earnings results on Thursday, May 28th. The company reported C$1.83 EPS for the quarter. BRP had a return on equity of 46.01% and a net margin of 3.01%.The company had revenue of C$2.39 billion during the quarter. On average, sell-side analysts forecast that BRP Inc. will post 6.890971 earnings per share for the current year.

BRP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, April 10th. BRP’s dividend payout ratio is 24.45%.

BRP Company Profile

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia).