BRP (NASDAQ:DOO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded BRP from “buy” to “hold,” following similar recent rating cuts from TD Cowen and Canaccord Genuity. Analysts now broadly rate the stock “Hold,” with a consensus price target of $83.
• BRP shares opened at $61.83, down 0.9%, giving the company a market capitalization of approximately $4.54 billion. The stock has traded between $48.67 and $81.89 over the past year.
• Several institutional investors, including Quarry LP, Signaturefd LLC and Intact Investment Management, recently initiated positions in BRP.

BRP (NASDAQ:DOO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

DOO has been the topic of a number of other reports. TD Cowen downgraded BRP from a "buy" rating to a "hold" rating in a research report on Wednesday, April 15th. UBS Group lowered their price objective on BRP from $78.00 to $68.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. TD Securities restated a "hold" rating on shares of BRP in a research note on Friday, May 29th. Canaccord Genuity Group lowered BRP from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 15th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of BRP in a research note on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.00.

BRP Trading Down 0.9%

NASDAQ:DOO opened at $61.83 on Friday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 23.33 and a beta of 0.89. BRP has a 52 week low of $48.67 and a 52 week high of $81.89. The company has a quick ratio of 0.61, a current ratio of 1.30 and a debt-to-equity ratio of 3.41. The firm has a 50 day moving average of $59.96 and a 200 day moving average of $65.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DOO. Quarry LP purchased a new stake in shares of BRP during the fourth quarter valued at $30,000. Signaturefd LLC purchased a new position in BRP in the 4th quarter worth $43,000. Quadrant Capital Group LLC acquired a new stake in BRP during the 4th quarter worth about $89,000. PNC Financial Services Group Inc. purchased a new stake in BRP during the 4th quarter valued at about $142,000. Finally, Intact Investment Management Inc. purchased a new stake in BRP during the 4th quarter valued at 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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