BRP (NASDAQ:DOOO) Stock Price Down 2.2% – Here’s What Happened

Shares of BRP Inc. (NASDAQ:DOOO) were down 2.2% on Thursday . The stock traded as low as $59.82 and last traded at $61.14. 226,298 shares traded hands during trading, a decline of 5% from the average daily volume of 237,803 shares. The stock had previously closed at $62.49.

Analyst Upgrades and Downgrades

Separately, UBS Group restated a “neutral” rating on shares of BRP in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.75.

BRP Stock Performance

The business’s 50-day simple moving average is $59.83 and its two-hundred day simple moving average is $65.68. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 167.11 and a beta of 1.26. The company has a quick ratio of 0.49, a current ratio of 1.23 and a debt-to-equity ratio of 4.31.

Hedge Funds Weigh In On BRP

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its holdings in BRP by 905.8% in the second quarter. Osaic Holdings Inc. now owns 694 shares of the company’s stock valued at $34,000 after purchasing an additional 625 shares during the period. JPMorgan Chase & Co. raised its stake in shares of BRP by 1,057.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,088 shares of the company’s stock worth $66,000 after buying an additional 994 shares during the period. Quarry LP acquired a new position in shares of BRP during the 3rd quarter worth approximately $74,000. Raymond James Financial Inc. purchased a new position in shares of BRP during the 2nd quarter valued at approximately $60,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of BRP during the 3rd quarter valued at approximately $77,000.

About BRP

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company’s diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP’s product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.