BRP (NASDAQ:DOOO) Downgraded by Zacks Investment Research to “Sell”

BRP (NASDAQ:DOOO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “BRP Inc. designs, develops, manufactures and distributes recreational vehicles. The Company offers watercrafts, sport boats, snowmobiles, pontoons, marine propulsion systems and all-terrain and utility vehicles, as well as engines for karts, motorcycles and recreational aircrafts. BRP Inc. is headquartered in Valcourt, Canada. “

Several other analysts have also recently weighed in on the company. Raymond James boosted their price objective on BRP from C$122.00 to C$137.00 and gave the stock a “strong-buy” rating in a report on Friday, September 3rd. TD Securities boosted their target price on BRP from C$120.00 to C$140.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. CIBC upgraded BRP from a “neutral” rating to an “outperform” rating in a research report on Friday, September 3rd. BMO Capital Markets upgraded BRP from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $154.00 in a research report on Tuesday, September 7th. Finally, National Bankshares decreased their target price on BRP from C$135.00 to C$131.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BRP has an average rating of “Buy” and an average price target of $131.00.

Shares of BRP stock traded up $1.43 during trading on Thursday, reaching $82.44. The company’s stock had a trading volume of 103,707 shares, compared to its average volume of 89,263. The stock has a 50-day moving average of $92.50. BRP has a one year low of $52.79 and a one year high of $102.96. The firm has a market capitalization of $6.65 billion, a PE ratio of 10.14 and a beta of 2.72.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Wednesday, September 1st. The company reported $2.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $1.85. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.72 billion. BRP had a negative return on equity of 209.67% and a net margin of 12.76%. BRP’s quarterly revenue was up 54.4% compared to the same quarter last year. Equities analysts anticipate that BRP will post 7.33 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in BRP by 700.7% in the 1st quarter. FMR LLC now owns 655,115 shares of the company’s stock valued at $18,178,000 after acquiring an additional 573,296 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in BRP in the 1st quarter valued at approximately $4,094,000. Morgan Stanley lifted its stake in BRP by 29.9% in the 1st quarter. Morgan Stanley now owns 389,489 shares of the company’s stock valued at $33,855,000 after acquiring an additional 89,551 shares in the last quarter. Millennium Management LLC bought a new stake in BRP in the 1st quarter valued at approximately $323,000. Finally, Pendal Group Limited lifted its stake in BRP by 39.8% in the 1st quarter. Pendal Group Limited now owns 17,524 shares of the company’s stock valued at $1,519,000 after acquiring an additional 4,990 shares in the last quarter. Institutional investors and hedge funds own 30.04% of the company’s stock.

About BRP

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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