BRP (NASDAQ:DOO) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded BRP from “hold” to “strong buy,” while other analysts also issued positive revisions. MarketBeat’s consensus rating is “Moderate Buy,” with an average price target of $84.
• BRP shares opened at $60.66, up 0.3%, giving the company a market capitalization of approximately $4.45 billion. The stock has traded between $48.83 and $81.89 over the past 52 weeks.
• Several institutional investors, including UBS Group and Systematic Financial Management, recently established positions in BRP, signaling increased hedge-fund interest in the powersports vehicle manufacturer.

BRP (NASDAQ:DOO - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday, Zacks reports.

A number of other equities analysts have also weighed in on DOO. TD Securities upgraded BRP from a "hold" rating to a "buy" rating in a research note on Tuesday, August 18th. Citigroup lifted their price target on BRP from $74.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday. Weiss Ratings lowered BRP from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, September 3rd. National Bank Financial raised shares of BRP from a "sector perform" rating to an "outperform" rating in a research note on Thursday, September 3rd. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of BRP in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $84.00.

BRP Trading Up 0.3%

Shares of DOO stock opened at $60.66 on Wednesday. The company has a market capitalization of $4.45 billion, a PE ratio of 55.15 and a beta of 0.88. BRP has a 52-week low of $48.83 and a 52-week high of $81.89. The business's fifty day moving average is $62.41 and its 200 day moving average is $62.61. The company has a debt-to-equity ratio of 7.31, a quick ratio of 0.52 and a current ratio of 1.19.

Hedge Funds Weigh In On BRP

Several institutional investors have recently modified their holdings of the company. UBS Group AG purchased a new position in shares of BRP during the 4th quarter valued at about $6,222,000. Versor Investments LP bought a new position in BRP during the fourth quarter valued at approximately $340,000. PNC Financial Services Group Inc. bought a new position in BRP during the fourth quarter valued at approximately $142,000. Systematic Financial Management LP purchased a new position in shares of BRP during the fourth quarter worth approximately $17,672,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of BRP during the fourth quarter worth approximately $749,000.

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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