BRP (NASDAQ:DOO) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded BRP from “hold” to “buy,” joining several positive analyst views, including Citigroup’s and Royal Bank of Canada’s buy/outperform ratings.
• Despite the upgrade, overall analyst sentiment remains cautious: five analysts rate BRP a Buy and nine rate it a Hold, resulting in a consensus “Hold” rating and an $83 price target.
• BRP shares opened at $68.04, with a 52-week range of $48.83 to $81.89 and a market capitalization of roughly $4.99 billion; several major institutional investors recently established new positions.

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

A number of other brokerages have also recently issued reports on DOO. Citigroup reduced their price objective on BRP from $75.00 to $74.00 and set a "buy" rating for the company in a report on Friday, May 29th. Zacks Research upgraded BRP from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 30th. Royal Bank Of Canada reissued an "outperform" rating on shares of BRP in a report on Friday, May 29th. UBS Group reduced their price target on BRP from $78.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Finally, National Bank Financial reaffirmed a "sector perform" rating on shares of BRP in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, BRP has a consensus rating of "Hold" and a consensus target price of $83.00.

BRP Price Performance

NASDAQ:DOO opened at $68.04 on Friday. BRP has a 52-week low of $48.83 and a 52-week high of $81.89. The company has a market cap of $4.99 billion, a P/E ratio of 25.68 and a beta of 0.88. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30. The stock's 50-day simple moving average is $61.72 and its 200 day simple moving average is $64.30.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DOO. Mackenzie Financial Corp bought a new stake in BRP during the fourth quarter worth about $207,651,000. Price T Rowe Associates Inc. MD bought a new position in BRP in the 4th quarter valued at about $169,341,000. Capital World Investors bought a new position in BRP in the 4th quarter valued at about $158,763,000. FIL Ltd acquired a new position in shares of BRP in the 4th quarter valued at approximately $123,110,000. Finally, Vanguard Group Inc. acquired a new position in shares of BRP in the 4th quarter valued at approximately $98,153,000.

About BRP

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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