BRP (NASDAQ:DOO) Upgraded at National Bank Financial

Key Points

• National Bank Financial upgraded BRP from “sector perform” to “outperform,” while the broader analyst consensus remains “Hold” with a $83 average price target.
• BRP shares fell 2.1% to $62.00, giving the company a market capitalization of approximately $4.55 billion; the stock has traded between $48.83 and $81.89 over the past year.
• Several major institutional investors, including Mackenzie Financial, T. Rowe Price, Capital World Investors, FIL and Vanguard, established sizable BRP positions during the fourth quarter.

BRP (NASDAQ:DOO - Get Free Report) was upgraded by analysts at National Bank Financial from a "sector perform" rating to an "outperform" rating in a note issued to investors on Thursday, Briefing.com reports.

Other equities analysts have also issued reports about the company. Scotiabank reaffirmed a "sector perform" rating on shares of BRP in a report on Friday, July 24th. Stifel Nicolaus lowered BRP from a "buy" rating to a "hold" rating in a research report on Friday, May 29th. TD Securities raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Tuesday, August 18th. UBS Group reduced their price objective on BRP from $78.00 to $68.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of BRP in a research report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.00.

BRP Trading Down 2.1%

DOO traded down $1.30 during mid-day trading on Thursday, reaching $62.00. The stock had a trading volume of 716,134 shares, compared to its average volume of 306,558. The stock has a market capitalization of $4.55 billion, a P/E ratio of 23.48 and a beta of 0.88. BRP has a 52 week low of $48.83 and a 52 week high of $81.89. The firm's fifty day simple moving average is $62.04 and its two-hundred day simple moving average is $63.29. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30.

Institutional Trading of BRP

Several hedge funds and other institutional investors have recently bought and sold shares of DOO. Mackenzie Financial Corp bought a new position in BRP in the 4th quarter valued at approximately $207,651,000. Price T Rowe Associates Inc. MD bought a new position in shares of BRP during the 4th quarter valued at about $169,341,000. Capital World Investors bought a new stake in shares of BRP in the 4th quarter worth about $158,763,000. FIL Ltd purchased a new stake in shares of BRP in the fourth quarter valued at $123,110,000. Finally, Vanguard Group Inc. purchased a new stake in BRP in the fourth quarter worth $98,153,000.

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.

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