BRP (NASDAQ:DOO) Rating Lowered to Hold at TD Cowen

Key Points

• TD Cowen downgraded BRP (NASDAQ:DOO) from a Buy to a Hold; despite mixed analyst views the MarketBeat consensus remains a Moderate Buy with a consensus target price of $80.50.
• Shares recently traded near $78.45 with a 52-week range of $31.78–$81.89; the company has a market cap of $5.75B, a P/E of ~26.96 and a high debt-to-equity ratio of 3.92.
• Major institutional investors significantly increased exposure in Q4, with new stakes reported from Mackenzie (~$207.7M), Price T. Rowe (~$169.3M), Capital World (~$158.8M), FIL (~$123.1M) and Vanguard (~$98.2M).

BRP (NASDAQ:DOO - Get Free Report) was downgraded by equities research analysts at TD Cowen from a "buy" rating to a "hold" rating in a report issued on Wednesday,Finviz reports.

Several other equities research analysts also recently issued reports on the stock. Zacks Research upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 27th. Citigroup reduced their price objective on BRP from $87.00 to $86.00 and set a "buy" rating for the company in a report on Monday, March 30th. UBS Group boosted their price objective on BRP from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, January 9th. Wells Fargo & Company started coverage on BRP in a report on Wednesday, March 11th. They set an "overweight" rating for the company. Finally, TD Securities cut BRP to a "hold" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.50.

BRP Stock Performance

Shares of NASDAQ:DOO opened at $78.45 on Wednesday. BRP has a 52-week low of $31.78 and a 52-week high of $81.89. The firm has a market cap of $5.75 billion, a P/E ratio of 26.96 and a beta of 1.15. The firm has a 50-day moving average price of $72.29. The company has a debt-to-equity ratio of 3.92, a current ratio of 1.27 and a quick ratio of 0.56.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new stake in BRP in the fourth quarter valued at approximately $207,651,000. Price T Rowe Associates Inc. MD acquired a new stake in BRP in the fourth quarter valued at approximately $169,341,000. Capital World Investors acquired a new stake in BRP in the fourth quarter valued at approximately $158,763,000. FIL Ltd acquired a new stake in BRP in the fourth quarter valued at approximately $123,110,000. Finally, Vanguard Group Inc. acquired a new stake in BRP in the fourth quarter valued at approximately $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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