Zacks Research Downgrades BRP (NASDAQ:DOO) to Strong Sell

BRP (NASDAQ:DOO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. TD Cowen downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Citigroup dropped their target price on shares of BRP from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Canaccord Genuity Group downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Scotiabank restated a “sector perform” rating on shares of BRP in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.33.

BRP Price Performance

Shares of NASDAQ:DOO opened at $61.18 on Monday. The firm has a market cap of $4.51 billion, a P/E ratio of 23.09 and a beta of 0.89. The company has a 50 day moving average price of $61.38. 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 fifty-two week low of $43.97 and a fifty-two week high of $81.89.

Institutional Trading of BRP

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its holdings in shares of BRP by 4.8% in the first quarter. Pictet Asset Management Holding SA now owns 7,156 shares of the company’s stock valued at $513,000 after purchasing an additional 331 shares during the last quarter. Quarry LP acquired a new stake in shares of BRP in the fourth quarter valued at approximately $30,000. Signaturefd LLC acquired a new stake in shares of BRP in the fourth quarter valued at approximately $43,000. Swiss National Bank raised its holdings in shares of BRP by 1.3% in the first quarter. Swiss National Bank now owns 72,600 shares of the company’s stock valued at $5,211,000 after purchasing an additional 900 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in shares of BRP in the fourth quarter valued at approximately $89,000.

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.