BRP (NASDAQ:DOOO) Shares Gap Up – Time to Buy?

BRP Inc. (NASDAQ:DOOO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $70.77, but opened at $76.36. BRP shares last traded at $75.4140, with a volume of 194,918 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOOO. BMO Capital Markets reaffirmed an “outperform” rating on shares of BRP in a research report on Tuesday, September 2nd. Zacks Research downgraded BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Royal Bank Of Canada lifted their target price on BRP from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Cibc World Mkts upgraded BRP from a “hold” rating to a “strong-buy” rating in a report on Monday, September 1st. Finally, Wall Street Zen lowered BRP from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.60.

BRP Trading Up 4.4%

The company has a debt-to-equity ratio of 5.54, a current ratio of 1.34 and a quick ratio of 0.55. The company has a market capitalization of $5.40 billion, a P/E ratio of -309.14 and a beta of 1.26. The firm has a fifty day moving average price of $65.25 and a 200-day moving average price of $56.71.

Institutional Investors Weigh In On BRP

A number of hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in BRP by 905.8% during the second quarter. Osaic Holdings Inc. now owns 694 shares of the company’s stock valued at $34,000 after buying an additional 625 shares during the period. Sagard Holdings Management Inc. purchased a new position in BRP in the second quarter valued at about $41,000. Raymond James Financial Inc. bought a new stake in shares of BRP in the 2nd quarter worth approximately $60,000. JPMorgan Chase & Co. raised its holdings in shares of BRP by 1,057.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,088 shares of the company’s stock worth $66,000 after purchasing an additional 994 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in BRP in the first quarter valued at approximately $70,000.

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.