BRP (NASDAQ:DOOO) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen cut shares of BRP (NASDAQ:DOOO - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

A number of other analysts have also recently issued reports on the company. TD Securities raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. Desjardins upgraded BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. UBS Group dropped their price objective on BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Citigroup reiterated a "neutral" rating and issued a $51.00 target price (up from $43.00) on shares of BRP in a research note on Monday, June 16th. Finally, Stifel Canada raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.00.

BRP Stock Up 0.1%

Shares of DOOO stock traded up $0.07 during trading on Friday, hitting $48.47. 558,060 shares of the company were exchanged, compared to its average volume of 178,123. The business's 50-day simple moving average is $40.46 and its 200 day simple moving average is $42.53. BRP has a twelve month low of $31.78 and a twelve month high of $74.00. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -118.22 and a beta of 1.23. The company has a debt-to-equity ratio of 5.85, a quick ratio of 0.58 and a current ratio of 1.34.

BRP (NASDAQ:DOOO - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, analysts forecast that BRP will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be paid a $0.1557 dividend. The ex-dividend date is Monday, June 30th. This is a positive change from BRP's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.28%. BRP's dividend payout ratio (DPR) is presently -146.34%.

Institutional Investors Weigh In On BRP

Several hedge funds and other institutional investors have recently made changes to their positions in DOOO. Quadrant Capital Group LLC lifted its position in shares of BRP by 259.3% during the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC increased its position in BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after buying an additional 903 shares during the period. Acadian Asset Management LLC acquired a new position in shares of BRP during the first quarter worth approximately $70,000. Dnca Finance boosted its position in shares of BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock valued at $71,000 after acquiring an additional 369 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of BRP in the fourth quarter worth $77,000.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.