Royal Bank of Canada Cuts BRP (TSE:DOO) Price Target to C$69.00

BRP (TSE:DOO) had its price target dropped by research analysts at Royal Bank of Canada from C$99.00 to C$69.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price would suggest a potential upside of 44.62% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on DOO. Citigroup decreased their price target on shares of BRP from C$41.00 to C$39.00 in a research note on Friday. Stifel Nicolaus lowered their price target on shares of BRP from C$78.00 to C$58.00 and set a “buy” rating for the company in a report on Thursday. National Bankshares reduced their price objective on BRP from C$84.00 to C$72.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 25th. Raymond James lowered their price objective on BRP from C$98.00 to C$65.00 in a research note on Thursday. Finally, DA Davidson cut their target price on BRP from C$96.00 to C$88.00 in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$71.23.

BRP Price Performance

Shares of BRP stock traded down C$3.11 on Friday, hitting C$47.71. 103,992 shares of the company traded hands, compared to its average volume of 174,811. The stock has a market capitalization of C$3.51 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.05 and a beta of 2.28. The business has a 50-day simple moving average of C$61.57 and a 200 day simple moving average of C$69.91. BRP has a 52 week low of C$47.16 and a 52 week high of C$102.46. The company has a debt-to-equity ratio of 573.79, a quick ratio of 0.20 and a current ratio of 1.37.

About BRP

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.