BRP (NASDAQ:DOO) Raised to “Strong-Buy” at Zacks Research

BRP (NASDAQ:DOO) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. National Bank Financial upgraded BRP from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 3rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of BRP in a research note on Friday, May 29th. Wall Street Zen downgraded BRP from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Citigroup increased their price objective on BRP from $74.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of BRP in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

BRP Stock Up 0.3%

Shares of NASDAQ:DOO opened at $60.66 on Wednesday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 55.15 and a beta of 0.88. The stock’s 50-day moving average price is $62.41 and its 200-day moving average price is $62.61. The company has a current ratio of 1.19, a quick ratio of 0.52 and a debt-to-equity ratio of 7.31. BRP has a 12-month low of $48.83 and a 12-month high of $81.89.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in BRP in the 4th quarter worth approximately $207,651,000. Price T Rowe Associates Inc. MD purchased a new position in shares of BRP during the fourth quarter valued at approximately $169,341,000. Capital World Investors bought a new position in shares of BRP during the fourth quarter valued at approximately $158,763,000. FIL Ltd purchased a new stake in BRP in the fourth quarter worth $123,110,000. Finally, The Manufacturers Life Insurance Company bought a new stake in BRP in the fourth quarter valued at $84,978,000.

BRP Company Profile

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.