BRP (NASDAQ:DOO) Upgraded by TD Securities to Buy Rating

BRP (NASDAQ:DOO) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other research firms have also recently weighed in on DOO. Weiss Ratings reiterated a “hold (c)” rating on shares of BRP in a research report on Thursday, July 2nd. Wall Street Zen downgraded shares of BRP from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group lowered their price target on shares of BRP from $78.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of BRP in a report on Friday, May 29th. Finally, Scotiabank restated a “sector perform” rating on shares of BRP in a research report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.00.

BRP Stock Performance

BRP stock traded up $5.11 during trading hours on Tuesday, hitting $68.90. The company had a trading volume of 407,616 shares, compared to its average volume of 306,444. The firm has a 50-day moving average of $61.05 and a 200 day moving average of $64.47. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61. The firm has a market cap of $5.05 billion, a PE ratio of 26.02 and a beta of 0.88. BRP has a one year low of $48.83 and a one year high of $81.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. VELA Investment Management LLC acquired a new position in shares of BRP during the fourth quarter worth $1,651,000. Walleye Capital LLC increased its holdings in BRP by 224.1% in the second quarter. Walleye Capital LLC now owns 29,035 shares of the company’s stock valued at $1,772,000 after purchasing an additional 20,077 shares during the period. Triasima Portfolio Management inc. acquired a new stake in BRP in the fourth quarter valued at $5,551,000. Dimensional Fund Advisors LP raised its position in BRP by 11.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock worth $14,805,000 after purchasing an additional 20,786 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in BRP by 324.1% during the 1st quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after purchasing an additional 116,189 shares during the last quarter.

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.