BRP (NASDAQ:DOOO) Downgraded by Citigroup to “Sell”

BRP (NASDAQ:DOOO) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $29.00 price objective on the stock, down from their previous price objective of $48.00. Citigroup’s target price would suggest a potential downside of 25.12% from the company’s current price.

BRP Stock Down 1.0 %

Shares of NASDAQ:DOOO opened at $38.73 on Thursday. BRP has a 52-week low of $36.63 and a 52-week high of $75.59. The stock has a market cap of $2.83 billion, a P/E ratio of 20.60 and a beta of 2.03. The business has a fifty day moving average of $44.75 and a two-hundred day moving average of $50.90. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

Institutional Trading of BRP

Several institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock valued at $35,000 after purchasing an additional 490 shares during the period. Signaturefd LLC lifted its position in BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after buying an additional 903 shares during the last quarter. Dnca Finance boosted its stake in BRP by 36.1% during the fourth quarter. Dnca Finance now owns 1,390 shares of the company’s stock worth $71,000 after buying an additional 369 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of BRP during the fourth quarter valued at about $77,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of BRP during the fourth quarter valued at about $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.