BRP (NASDAQ:DOO) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded BRP (NASDAQ:DOO) from a "strong-buy" to a "buy" rating in a report released Saturday.
• Analyst views are mixed—Wells Fargo started coverage with an "overweight," UBS lifted its price target to $75 (neutral), Zacks moved to "strong-buy," while several others cut ratings—leaving BRP with an average rating of "Hold" and an average price target of $80.50.
• BRP opened at $57.85, trades in a 52-week range of $31.78–$81.89, has a market cap of about $4.24 billion and a trailing P/E of 19.88.

BRP (NASDAQ:DOO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also recently weighed in on DOO. UBS Group upped their price objective on shares of BRP from $70.00 to $75.00 and gave the stock a "neutral" rating in a research report on Friday, January 9th. Seaport Research Partners cut shares of BRP from a "buy" rating to a "neutral" rating in a research report on Wednesday. Wells Fargo & Company began coverage on shares of BRP in a research report on Wednesday, March 11th. They issued an "overweight" rating for the company. Zacks Research upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 27th. Finally, TD Cowen cut shares of BRP from a "buy" rating to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, BRP currently has an average rating of "Hold" and an average price target of $80.50.

BRP Price Performance

DOO opened at $57.85 on Friday. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.56 and a current ratio of 1.27. The company has a fifty day moving average price of $70.88. BRP has a 1 year low of $31.78 and a 1 year high of $81.89. The firm has a market cap of $4.24 billion, a PE ratio of 19.88 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new position in BRP during the fourth quarter worth about $30,000. Signaturefd LLC acquired a new stake in shares of BRP during the fourth quarter worth about $43,000. Quadrant Capital Group LLC acquired a new stake in shares of BRP during the fourth quarter worth about $89,000. PNC Financial Services Group Inc. acquired a new stake in shares of BRP during the fourth quarter worth about $142,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of BRP during the fourth quarter worth about $156,000.

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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