BRP (NASDAQ:DOO) Stock Rating Lowered by Zacks Research

BRP (NASDAQ:DOO – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

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

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BRP Stock Down 2.6%

NASDAQ DOO opened at $52.96 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.19 and a debt-to-equity ratio of 7.31. The company has a fifty day moving average of $61.08 and a two-hundred day moving average of $60.94. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 48.15 and a beta of 0.97. BRP has a 52 week low of $48.83 and a 52 week high of $81.89.

Hedge Funds Weigh In On BRP

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock valued at $65,728,000 after purchasing an additional 23,055 shares during the period. Tidal Investments LLC grew its holdings in shares of BRP by 65.4% during the 2nd quarter. Tidal Investments LLC now owns 15,415 shares of the company’s stock worth $941,000 after purchasing an additional 6,095 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of BRP during the 2nd quarter worth about $79,000. Nykredit A S acquired a new stake in shares of BRP during the 2nd quarter worth about $61,000. Finally, Allianz Asset Management GmbH raised its holdings in BRP by 24.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 60,855 shares of the company’s stock valued at $3,716,000 after buying an additional 11,966 shares during the period.

About BRP

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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.

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