BRP (NASDAQ:DOO) Stock Bumped Down to Hold by Zacks Research

Zacks Research downgraded shares of BRP (NASDAQ:DOO) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks reports.

A number of other research analysts also recently issued reports on DOO. Weiss Ratings downgraded BRP from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Scotiabank reaffirmed a “sector perform” rating on shares of BRP in a research report on Friday, September 4th. National Bank Financial upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a research note on Thursday, September 3rd. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Tuesday, August 18th. Finally, Citigroup increased their price objective on shares of BRP from $74.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.00.

BRP Trading Down 2.6%

DOO opened at $52.96 on Thursday. BRP has a twelve month low of $48.83 and a twelve month high of $81.89. The company has a fifty day moving average of $61.08 and a 200-day moving average of $60.94. The stock has a market cap of $3.77 billion, a PE ratio of 48.15 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.19 and a debt-to-equity ratio of 7.31.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 29th will be issued a dividend of C$0.25 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.00 annualized dividend and a yield of 1.9%. BRP’s dividend payout ratio is presently 65.45%.

Institutional Investors Weigh In On BRP

Several hedge funds and other institutional investors have recently made changes to their positions in DOO. Pictet Asset Management Holding SA boosted its position in shares of BRP by 4.8% during the first quarter. Pictet Asset Management Holding SA now owns 7,156 shares of the company’s stock valued at $513,000 after buying an additional 331 shares during the last quarter. Deutsche Bank AG lifted its stake in BRP by 6.0% during the 2nd quarter. Deutsche Bank AG now owns 7,124 shares of the company’s stock valued at $435,000 after acquiring an additional 402 shares in the last quarter. State of Wyoming lifted its stake in BRP by 21.4% during the 2nd quarter. State of Wyoming now owns 2,317 shares of the company’s stock valued at $141,000 after acquiring an additional 408 shares in the last quarter. BlackRock Inc. boosted its holdings in BRP by 3.5% during the 2nd quarter. BlackRock Inc. now owns 12,364 shares of the company’s stock worth $754,000 after acquiring an additional 417 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of BRP by 4,070.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $43,000 after acquiring an additional 692 shares in the last quarter.

BRP Company Profile

BRP Inc, formerly known as Bombardier Recreational Products, is a Canadian company that designs, develops, manufactures, distributes and markets powersports vehicles, marine products, engines and related parts, accessories and apparel. The company serves recreational and commercial customers through a portfolio of products sold internationally.

BRP’s principal brands include Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am off-road and three-wheel vehicles, Alumacraft and Manitou boats, and Rotax engines.