BRP (NASDAQ:DOO) Rating Lowered to “Hold” at Zacks Research

BRP (NASDAQ:DOO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks reports.

A number of other equities analysts have also weighed in on the stock. National Bank Financial upgraded shares of BRP from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 3rd. Citigroup raised their price objective on shares of BRP from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, September 8th. Scotiabank restated a “sector perform” rating on shares of BRP in a research note on Friday, September 4th. TD Securities raised shares of BRP from a “hold” rating to a “buy” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BRP presently has an average rating of “Hold” and a consensus price target of $84.00.

BRP Trading Down 2.6%

BRP stock opened at $52.96 on Thursday. BRP has a 12-month low of $48.83 and a 12-month high of $81.89. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 48.15 and a beta of 0.97. The firm has a 50 day moving average of $61.08 and a 200 day moving average of $60.94. The company has a current ratio of 1.19, a quick ratio of 0.52 and a debt-to-equity ratio of 7.31.

Institutional Investors Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of BRP by 2.2% during 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 buying an additional 23,055 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of BRP by 3.7% in the second quarter. TD Asset Management Inc now owns 232,711 shares of the company’s stock worth $14,210,000 after buying an additional 8,239 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BRP by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock worth $14,805,000 after acquiring an additional 20,786 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of BRP by 324.1% during the first quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after acquiring an additional 116,189 shares during the last quarter. Finally, Swiss National Bank grew its stake in BRP by 1.3% during the first quarter. Swiss National Bank now owns 72,600 shares of the company’s stock valued at $5,211,000 after acquiring an additional 900 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.