BRP (NASDAQ:DOO) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of BRP (NASDAQ:DOO) from a buy rating to a hold rating in a report issued on Saturday.

Several other equities analysts have also recently commented on DOO. Citigroup dropped their target price on shares of BRP from $75.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of BRP in a research report on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of BRP in a research note on Thursday, July 2nd. Seaport Research Partners downgraded shares of BRP from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Finally, Scotiabank restated a “sector perform” rating on shares of BRP in a research note on Friday, July 24th. Four analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.00.

BRP Trading Down 0.2%

DOO opened at $61.71 on Friday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 23.29 and a beta of 0.88. The company has a quick ratio of 0.61, a current ratio of 1.30 and a debt-to-equity ratio of 3.41. BRP has a twelve month low of $48.83 and a twelve month high of $81.89. The company has a 50-day simple moving average of $60.08 and a 200 day simple moving average of $65.49.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. BRP’s dividend payout ratio is 26.42%.

Institutional Investors Weigh In On BRP

Several hedge funds and other institutional investors have recently made changes to their positions in DOO. Mackenzie Financial Corp acquired a new position in BRP during the 4th quarter worth 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 bought a new stake in shares of BRP during the fourth quarter worth $158,763,000. FIL Ltd bought a new stake in shares of BRP during the fourth quarter worth $123,110,000. Finally, Vanguard Group Inc. acquired a new position in shares of BRP during the fourth quarter worth $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.