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

Wall Street Zen cut shares of BRP (NASDAQ:DOO) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also weighed in on DOO. Zacks Research upgraded BRP from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. National Bank Financial upgraded BRP from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 3rd. Weiss Ratings cut shares of BRP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BRP in a report on Friday, May 29th. Finally, Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, BRP currently has a consensus rating of “Hold” and an average price target of $83.00.

BRP Stock Performance

Shares of NASDAQ DOO opened at $67.32 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.52 and a debt-to-equity ratio of 7.31. BRP has a 12 month low of $48.83 and a 12 month high of $81.89. The stock has a 50 day moving average of $62.28 and a 200-day moving average of $63.02. The company has a market capitalization of $4.94 billion, a P/E ratio of 61.20 and a beta of 0.88.

BRP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. BRP’s dividend payout ratio is 63.64%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DOO. Quarry LP bought a new stake in shares of BRP during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its holdings in BRP by 4,070.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $43,000 after purchasing an additional 692 shares in the last quarter. Nykredit A S acquired a new position in BRP in the second quarter valued at approximately $61,000. Quadrant Capital Group LLC acquired a new position in BRP in the fourth quarter valued at approximately $89,000. Finally, State of Wyoming boosted its holdings in shares of BRP by 21.4% during the 2nd quarter. State of Wyoming now owns 2,317 shares of the company’s stock worth $141,000 after buying an additional 408 shares in 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.