BRP (TSE:DOO) Share Price Passes Below 200 Day Moving Average – Time to Sell?

BRP Inc. (TSE:DOO)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.54 and traded as low as C$84.00. BRP shares last traded at C$84.46, with a volume of 156,548 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DOO shares. Ci Capital reduced their price objective on BRP from C$128.00 to C$119.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. BMO Capital Markets increased their target price on shares of BRP from C$115.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, March 27th. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating and cut their price target for the company from C$92.00 to C$85.00 in a report on Friday, May 29th. Scotiabank lifted their price target on shares of BRP from C$80.00 to C$83.00 and gave the company a “sector perform” rating in a research report on Friday, May 29th. Finally, TD Securities cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$98.73.

BRP Price Performance

The company has a debt-to-equity ratio of 419.45, a current ratio of 1.30 and a quick ratio of 0.20. The company has a market cap of C$6.23 billion, a PE ratio of 23.08, a P/E/G ratio of 2.05 and a beta of 0.83. The company has a 50-day moving average price of C$82.58 and a two-hundred day moving average price of C$91.54.

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

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).