Citigroup Lowers BRP (NASDAQ:DOO) Price Target to $86.00

BRP (NASDAQ:DOO) had its target price cut by investment analysts at Citigroup from $87.00 to $86.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 25.39% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company initiated coverage on BRP in a report on Wednesday, March 11th. They issued an “overweight” rating for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of BRP in a research report on Monday, March 23rd. Finally, UBS Group boosted their target price on shares of BRP from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

BRP Stock Performance

Shares of BRP stock traded up $2.33 during trading on Monday, hitting $68.58. 161,173 shares of the company’s stock were exchanged, compared to its average volume of 203,301. The company has a market cap of $5.03 billion, a PE ratio of 23.53 and a beta of 1.22. The firm’s 50-day simple moving average is $73.43. BRP has a 52-week low of $31.78 and a 52-week high of $81.89. The company has a quick ratio of 0.56, a current ratio of 1.27 and a debt-to-equity ratio of 3.92.

Hedge Funds Weigh In On BRP

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. purchased a new stake in shares of BRP during the 4th quarter worth approximately $9,701,000. Summit Global Investments acquired a new position in BRP in the fourth quarter valued at $474,000. State of Tennessee Department of Treasury purchased a new position in shares of BRP during the fourth quarter worth about $5,007,000. Mackenzie Financial Corp acquired a new stake in shares of BRP during the fourth quarter worth about $207,651,000. Finally, XTX Topco Ltd purchased a new stake in shares of BRP in the 4th quarter valued at about $361,000.

BRP Company Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.