BRP (NASDAQ:DOO) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded BRP from a "strong-buy" to a "hold", and several other brokerages have similarly lowered ratings, leaving a consensus analyst rating of Hold with a consensus target price of $85.67.
• Shares opened at $53.34 and were trading down about 3%, well below the 50‑day moving average of $67.80; BRP has a market cap of roughly $3.90 billion and a P/E of 18.33.

BRP (NASDAQ:DOO - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on DOO. TD Securities lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of BRP in a research note on Monday, March 23rd. UBS Group reaffirmed a "neutral" rating on shares of BRP in a research note on Friday. Raymond James Financial lowered shares of BRP from a "strong-buy" rating to a "market perform" rating in a research note on Friday. Finally, Seaport Research Partners lowered shares of BRP from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, BRP presently has an average rating of "Hold" and a consensus target price of $85.67.

BRP Trading Down 3.0%

Shares of NASDAQ:DOO opened at $53.34 on Monday. The stock has a 50 day moving average of $67.80. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 18.33 and a beta of 1.15. BRP has a twelve month low of $32.54 and a twelve month high of $81.89. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 3.92.

Institutional Trading of BRP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA lifted its stake in BRP by 4.8% during the first quarter. Pictet Asset Management Holding SA now owns 7,156 shares of the company's stock valued at $513,000 after purchasing an additional 331 shares during the last quarter. Quarry LP acquired a new stake in BRP during the fourth quarter valued at approximately $30,000. Signaturefd LLC acquired a new stake in BRP during the fourth quarter valued at approximately $43,000. Quadrant Capital Group LLC acquired a new stake in BRP during the fourth quarter valued at approximately $89,000. Finally, PNC Financial Services Group Inc. acquired a new stake in BRP during the fourth quarter valued at approximately $142,000.

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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