BRP (NASDAQ:DOO) Raised to “Hold” at Zacks Research

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

DOO has been the subject of a number of other research reports. Citigroup lowered their target price on shares of BRP from $75.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, May 29th. Raymond James Financial downgraded BRP from a “strong-buy” rating to a “market perform” rating in a report on Friday, April 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of BRP in a research report on Monday, March 23rd. National Bank Financial downgraded BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 15th. Finally, UBS Group cut their target price on BRP from $78.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Four analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.00.

BRP Stock Performance

Shares of NASDAQ DOO opened at $58.71 on Tuesday. The stock has a 50 day moving average price of $58.03. 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 52-week low of $47.74 and a 52-week high of $81.89. The firm has a market cap of $4.33 billion, a P/E ratio of 22.15 and a beta of 0.89.

Hedge Funds Weigh In On BRP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new stake in BRP in the 4th quarter valued at about $207,651,000. Price T Rowe Associates Inc. MD bought a new position in BRP in the fourth quarter worth approximately $169,341,000. Capital World Investors bought a new position in BRP in the fourth quarter worth approximately $158,763,000. FIL Ltd bought a new position in BRP in the fourth quarter worth approximately $123,110,000. Finally, Vanguard Group Inc. acquired a new stake in BRP in the fourth quarter valued at approximately $98,153,000.

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.