Zacks: Brokerages Set $53.48 Target Price for BRP Inc (DOOO)

Shares of BRP Inc (NASDAQ:DOOO) have been given a consensus broker rating score of 2.00 (Buy) from the seven analysts that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company.

Brokerages have set a 12 month consensus target price of $53.48 for the company and are predicting that the company will post $0.75 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BRP an industry rank of 227 out of 257 based on the ratings given to its competitors.

A number of equities research analysts have recently issued reports on DOOO shares. Desjardins reaffirmed a “buy” rating on shares of BRP in a report on Tuesday, October 9th. UBS Group started coverage on shares of BRP in a report on Tuesday, October 9th. They set a “buy” rating for the company. Robert W. Baird started coverage on shares of BRP in a report on Tuesday, October 9th. They set an “outperform” rating for the company. National Bank Financial raised shares of BRP from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Tuesday, October 9th. Finally, Royal Bank of Canada raised shares of BRP from a “sector perform” rating to an “outperform” rating in a report on Tuesday, October 9th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARP Americas LP purchased a new stake in shares of BRP in the third quarter valued at about $320,000. CLARET ASSET MANAGEMENT Corp bought a new stake in shares of BRP in the 3rd quarter worth approximately $300,000. CIBC Asset Management Inc bought a new stake in shares of BRP in the 3rd quarter worth approximately $877,000. American Century Companies Inc. bought a new stake in shares of BRP in the 3rd quarter worth approximately $48,156,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of BRP in the 3rd quarter worth approximately $29,655,000. 4.80% of the stock is owned by hedge funds and other institutional investors.

Shares of BRP stock traded up $0.47 during trading hours on Friday, reaching $37.97. 4,857 shares of the company’s stock were exchanged, compared to its average volume of 37,232. BRP has a 1 year low of $33.58 and a 1 year high of $55.41.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and propulsion systems worldwide. The company offers all-terrain, side-by-side, and spyder vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircrafts.

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