BRP (NASDAQ:DOO) Rating Lowered to “Hold” at Wall Street Zen

BRP (NASDAQ:DOO) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms have also weighed in on DOO. National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 15th. TD Securities reaffirmed a “hold” rating on shares of BRP in a research note on Friday, May 29th. Canaccord Genuity Group lowered shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of BRP in a research note on Friday, May 29th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of BRP in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, BRP currently has an average rating of “Hold” and an average price target of $83.00.

BRP Stock Performance

NASDAQ DOO opened at $61.83 on Friday. BRP has a 1-year low of $48.67 and a 1-year high of $81.89. The company has a market capitalization of $4.54 billion, a P/E ratio of 23.33 and a beta of 0.88. The business has a 50 day moving average price of $59.96 and a 200 day moving average price of $65.57. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61.

Institutional Trading of BRP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of BRP during the fourth quarter valued at $30,000. Signaturefd LLC acquired a new position in BRP in the 4th quarter valued at about $43,000. Quadrant Capital Group LLC acquired a new position in BRP in the 4th quarter valued at about $89,000. PNC Financial Services Group Inc. purchased a new position in BRP in the 4th quarter valued at about $142,000. Finally, Intact Investment Management Inc. purchased a new position in BRP in the 4th quarter valued at about $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.