BRP (NASDAQ:DOO) Coverage Initiated at Wells Fargo & Company

Key Points

• Wells Fargo & Company initiated coverage of BRP (NASDAQ:DOO) and assigned a “overweight” rating on the stock.
• Analyst consensus is mixed (one Buy, two Holds) with an average rating of Hold and an average price target of $75; the stock opened at $65.91 and trades within a 12‑month range of $31.78–$81.89 with a PE around 178.
• BRP carries significant leverage (debt‑to‑equity 4.31, quick ratio 0.49) even as several institutional investors added new stakes in Q4, notably Mackenzie Financial’s new position of about $207.65M.

Research analysts at Wells Fargo & Company started coverage on shares of BRP (NASDAQ:DOO - Get Free Report) in a report issued on Wednesday. The brokerage set an "overweight" rating on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of BRP from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of BRP in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, BRP has an average rating of "Hold" and an average price target of $75.00.

BRP Price Performance

NASDAQ DOO opened at $65.91 on Wednesday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.23 and a quick ratio of 0.49. The firm has a market capitalization of $4.83 billion, a PE ratio of 178.14 and a beta of 1.22. The firm has a 50-day moving average of $75.84. BRP has a 12 month low of $31.78 and a 12 month high of $81.89.

Institutional Investors Weigh In On BRP

A number of hedge funds have recently added to or reduced their stakes in DOO. Invesco Ltd. purchased a new position in BRP in the 4th quarter valued at approximately $9,701,000. Summit Global Investments purchased a new stake in shares of BRP during the fourth quarter worth $474,000. State of Tennessee Department of Treasury acquired a new stake in shares of BRP in the fourth quarter valued at $5,007,000. Mackenzie Financial Corp acquired a new stake in shares of BRP in the fourth quarter valued at $207,651,000. Finally, XTX Topco Ltd purchased a new position in BRP in the fourth quarter valued at $361,000.

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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