BRP (TSE:DOO) Shares Cross Below 200-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$94.93 and traded as low as C$76.90. BRP shares last traded at C$80.93, with a volume of 640,694 shares changing hands.

Wall Street Analyst Weigh In

DOO has been the subject of a number of recent research reports. Seaport Research Partners cut shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 15th. National Bank Financial cut shares of BRP from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$125.00 to C$80.00 in a research note on Wednesday, April 15th. Wells Fargo & Company boosted their price objective on shares of BRP from C$105.00 to C$110.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. TD set a C$84.00 target price on shares of BRP and gave the company a “hold” rating in a report on Thursday, May 21st. Finally, BMO Capital Markets lifted their target price on shares of BRP from C$115.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$103.33.

BRP Trading Up 0.8%

The firm has a market cap of C$5.97 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The business’s 50 day moving average price is C$84.75 and its 200-day moving average price is C$94.93. The company has a debt-to-equity ratio of 443.59, a quick ratio of 0.20 and a current ratio of 1.27.

BRP (TSE:DOO) last released its quarterly earnings data on Thursday, May 28th. The company reported C$1.83 earnings per share for the quarter. The firm had revenue of C$2.39 billion for the quarter. BRP had a net margin of 3.45% and a return on equity of 54.95%. Equities analysts expect that BRP Inc. will post 6.890971 EPS for the current year.

BRP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 24th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, April 10th. This represents a $1.00 annualized dividend and a yield of 1.2%. BRP’s dividend payout ratio is 21.77%.

About BRP

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).