Wall Street Zen Upgrades BRP (NASDAQ:DOOO) to “Strong-Buy”

BRP (NASDAQ:DOOO) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other brokerages have also commented on DOOO. Citigroup reaffirmed a “neutral” rating and issued a $51.00 price objective (up from $43.00) on shares of BRP in a research report on Monday, June 16th. TD Securities raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 30th. Stifel Canada raised shares of BRP from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 29th. Finally, Desjardins raised shares of BRP from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

BRP Stock Performance

Shares of BRP stock opened at $62.98 on Friday. The firm has a market capitalization of $4.60 billion, a P/E ratio of -262.42 and a beta of 1.19. The company has a quick ratio of 0.58, a current ratio of 1.34 and a debt-to-equity ratio of 5.85. The company has a 50 day moving average price of $52.13 and a 200 day moving average price of $43.41. BRP has a 52 week low of $31.78 and a 52 week high of $72.52.

BRP (NASDAQ:DOOO) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.78 billion. BRP had a negative net margin of 0.34% and a positive return on equity of 64.24%. Sell-side analysts expect that BRP will post 3.15 EPS for the current year.

Hedge Funds Weigh In On BRP

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in BRP during the 4th quarter worth approximately $916,000. Dimensional Fund Advisors LP increased its holdings in shares of BRP by 16.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 171,554 shares of the company’s stock valued at $8,727,000 after purchasing an additional 24,171 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of BRP by 31.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company’s stock valued at $2,193,000 after purchasing an additional 15,447 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of BRP by 5.5% during the 1st quarter. Fiera Capital Corp now owns 135,330 shares of the company’s stock valued at $4,574,000 after purchasing an additional 7,082 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. increased its holdings in shares of BRP by 29.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after purchasing an additional 668,607 shares in the last quarter.

BRP Company Profile

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.