BRP (NASDAQ:DOO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BRP (NASDAQ:DOO) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other research firms have also commented on DOO. Scotiabank reissued a “sector perform” rating on shares of BRP in a research note on Friday, July 24th. National Bank Financial restated a “sector perform” rating on shares of BRP in a research note on Wednesday, August 19th. Zacks Research upgraded BRP from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Raymond James Financial cut BRP from a “strong-buy” rating to a “market perform” rating in a report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of BRP in a research report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.00.

BRP Stock Down 6.3%

Shares of DOO opened at $63.77 on Friday. The company has a market capitalization of $4.68 billion, a P/E ratio of 24.06 and a beta of 0.88. BRP has a one year low of $48.83 and a one year high of $81.89. The business’s 50 day simple moving average is $61.79 and its 200-day simple moving average is $64.10. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61.

BRP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP’s dividend payout ratio (DPR) is 26.42%.

Institutional Investors Weigh In On BRP

Several institutional investors have recently modified their holdings of DOO. Nykredit A S bought a new stake in shares of BRP during the second quarter worth approximately $61,000. Addenda Capital Inc. boosted its stake in BRP by 10.9% in the second quarter. Addenda Capital Inc. now owns 19,664 shares of the company’s stock valued at $1,200,000 after acquiring an additional 1,933 shares during the last quarter. BlackRock Inc. grew 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 period. Deutsche Bank AG grew its holdings in BRP by 6.0% during the 2nd quarter. Deutsche Bank AG now owns 7,124 shares of the company’s stock worth $435,000 after acquiring an additional 402 shares during the period. Finally, Persistent Asset Partners Ltd acquired a new stake in BRP during the 2nd quarter worth $214,000.

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.