BRP (NASDAQ:DOOO) Upgraded to Neutral at Citigroup

BRP (NASDAQ:DOOO) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a report released on Friday,Benzinga reports. The firm presently has a $37.00 price target on the stock, up from their prior price target of $27.00. Citigroup’s price objective suggests a potential upside of 4.58% from the company’s current price.

Other research analysts also recently issued reports about the stock. Raymond James reissued a “strong-buy” rating on shares of BRP in a research note on Thursday, March 27th. TD Securities reiterated a “hold” rating on shares of BRP in a research report on Thursday, March 27th. Eight analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.33.

BRP Stock Down 3.3 %

DOOO opened at $35.38 on Friday. The business’s fifty day simple moving average is $41.12 and its 200 day simple moving average is $48.84. BRP has a 52 week low of $33.05 and a 52 week high of $75.16. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The stock has a market cap of $2.58 billion, a PE ratio of 18.82 and a beta of 1.71.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. As a group, research analysts expect that BRP will post 3.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BRP

A number of large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in shares of BRP by 259.3% during the fourth 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 period. Signaturefd LLC raised its position in BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after purchasing an additional 903 shares during the last quarter. Dnca Finance raised its position in BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company’s stock valued at $71,000 after purchasing an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in BRP in the 4th quarter worth approximately $77,000. Finally, Intact Investment Management Inc. bought a new stake in shares of BRP in the 4th quarter worth approximately $148,000.

About BRP

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.