Wall Street Zen Downgrades BRP (NASDAQ:DOO) to Buy

BRP (NASDAQ:DOO) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts also recently weighed in on the company. Canaccord Genuity Group downgraded BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. TD Securities downgraded BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday. TD Cowen downgraded BRP from a “buy” rating to a “hold” rating in a report on Wednesday, April 15th. UBS Group upped their target price on BRP from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Finally, Wells Fargo & Company began coverage on BRP in a report on Wednesday, March 11th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, BRP currently has a consensus rating of “Hold” and an average target price of $80.50.

BRP Price Performance

Shares of DOO opened at $57.85 on Friday. The firm has a market cap of $4.24 billion, a P/E ratio of 19.88 and a beta of 1.15. BRP has a fifty-two week low of $31.78 and a fifty-two week high of $81.89. The company has a quick ratio of 0.56, a current ratio of 1.27 and a debt-to-equity ratio of 3.92. The firm has a 50-day simple moving average of $70.88.

Institutional Investors Weigh In On BRP

Several large investors have recently made changes to their positions in DOO. QV Investors Inc. bought a new stake in shares of BRP in the 4th quarter valued at approximately $31,701,000. Signaturefd LLC bought a new stake in shares of BRP in the 4th quarter valued at approximately $43,000. Addenda Capital Inc. bought a new stake in shares of BRP in the 4th quarter valued at approximately $1,170,000. Annex Advisory Services LLC bought a new stake in shares of BRP in the 4th quarter valued at approximately $279,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of BRP in the 4th quarter valued at approximately $751,000.

BRP Company Profile

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.