BRP (NASDAQ:DOO) Upgraded by Wall Street Zen to Buy Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of BRP (NASDAQ:DOO – Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

Other analysts have also issued reports about the stock. National Bank Financial reiterated a “sector perform” rating on shares of BRP in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of BRP in a research report on Thursday, July 2nd. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Citigroup lowered their target price on BRP from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Finally, TD Securities upgraded BRP from a “hold” rating to a “buy” rating in a report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.00.

Get Our Latest Report on BRP

BRP Stock Performance

NASDAQ:DOO opened at $68.04 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 3.41. The firm has a 50-day moving average price of $61.72 and a two-hundred day moving average price of $64.30. BRP has a twelve month low of $48.83 and a twelve month high of $81.89. The company has a market capitalization of $4.99 billion, a P/E ratio of 25.68 and a beta of 0.88.

BRP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP’s dividend payout ratio (DPR) is currently 26.42%.

Institutional Investors Weigh In On BRP

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of BRP during the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd boosted its position in BRP by 4,070.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $43,000 after acquiring an additional 692 shares during the last quarter. Nykredit A S purchased a new stake in BRP in the 2nd quarter worth approximately $61,000. Quadrant Capital Group LLC purchased a new stake in BRP in the 4th quarter worth approximately $89,000. Finally, State of Wyoming raised its holdings in BRP by 21.4% in the 2nd quarter. State of Wyoming now owns 2,317 shares of the company’s stock valued at $141,000 after acquiring an additional 408 shares during the last quarter.

About BRP

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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.

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