BRP (NASDAQ:DOO) Downgraded to Strong Sell Rating by Zacks Research

BRP (NASDAQ:DOO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

DOO has been the topic of a number of other reports. Scotiabank reiterated a “sector perform” rating on shares of BRP in a report on Friday. Citigroup lowered their price objective on shares of BRP from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, May 29th. UBS Group reiterated a “neutral” rating on shares of BRP in a report on Friday, April 24th. Canaccord Genuity Group downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, TD Cowen downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, April 15th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BRP presently has an average rating of “Hold” and an average target price of $85.33.

BRP Stock Up 4.6%

NASDAQ DOO opened at $61.18 on Monday. The company has a quick ratio of 0.61, a current ratio of 1.30 and a debt-to-equity ratio of 3.41. BRP has a 12-month low of $43.97 and a 12-month high of $81.89. The firm has a market capitalization of $4.51 billion, a P/E ratio of 23.09 and a beta of 0.89. The firm has a 50 day simple moving average of $61.38.

Hedge Funds Weigh In On BRP

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in BRP during the fourth quarter worth $30,000. Signaturefd LLC acquired a new position in BRP during the fourth quarter worth $43,000. Quadrant Capital Group LLC acquired a new position in BRP during the fourth quarter worth $89,000. PNC Financial Services Group Inc. acquired a new position in BRP during the fourth quarter worth $142,000. Finally, Intact Investment Management Inc. acquired a new position in BRP during the fourth quarter worth $156,000.

About BRP

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.