Royal Bank Of Canada Has Lowered Expectations for BRP (NASDAQ:DOO) Stock Price

BRP (NASDAQ:DOO) had its price objective lowered by equities research analysts at Royal Bank Of Canada from $124.00 to $107.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 80.34% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Citigroup reiterated a “buy” rating on shares of BRP in a research report on Monday. TD Cowen cut shares of BRP from a “buy” rating to a “hold” rating in a report on Wednesday, April 15th. Wells Fargo & Company started coverage on shares of BRP in a research note on Wednesday, March 11th. They issued an “overweight” rating for the company. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 15th. Finally, Zacks Research upgraded BRP from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.67.

BRP Stock Up 2.6%

DOO traded up $1.48 during trading on Monday, hitting $59.33. The company’s stock had a trading volume of 51,218 shares, compared to its average volume of 336,695. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 20.33 and a beta of 1.15. BRP has a twelve month low of $31.78 and a twelve month high of $81.89. The business’s fifty day simple moving average is $70.88. 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 Investors Weigh In On BRP

Hedge funds have recently bought and sold shares of the business. Quarry LP bought a new position in shares of BRP during the fourth quarter valued at $30,000. Signaturefd LLC bought a new position in BRP during the 4th quarter valued at about $43,000. Quadrant Capital Group LLC purchased a new stake in shares of BRP during the 4th quarter valued at about $89,000. PNC Financial Services Group Inc. bought a new stake in shares of BRP in the fourth quarter worth approximately $142,000. Finally, Intact Investment Management Inc. purchased a new position in shares of BRP during the fourth quarter valued at approximately $156,000.

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.