BRP (NASDAQ:DOO) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of BRP (NASDAQ:DOO) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

DOO has been the subject of a number of other reports. National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 15th. Seaport Research Partners downgraded shares of BRP from a “buy” rating to a “neutral” rating in a report on Wednesday, April 15th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of BRP in a report on Friday. Citigroup dropped their price objective on shares of BRP from $75.00 to $74.00 and set a “buy” rating for the company in a report on Friday, May 29th. Finally, Canaccord Genuity Group downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.33.

BRP Stock Performance

NASDAQ DOO opened at $61.18 on Monday. BRP has a 52-week low of $43.97 and a 52-week high of $81.89. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61. The company has a market cap of $4.51 billion, a P/E ratio of 23.09 and a beta of 0.89. The stock’s fifty day moving average is $61.38.

BRP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, June 30th. BRP’s dividend payout ratio (DPR) is presently 27.17%.

Hedge Funds Weigh In On BRP

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in BRP in the 4th quarter worth $30,000. Signaturefd LLC purchased a new position in BRP in the 4th quarter worth $43,000. Quadrant Capital Group LLC purchased a new position in BRP in the 4th quarter worth $89,000. PNC Financial Services Group Inc. purchased a new position in BRP in the 4th quarter worth $142,000. Finally, Intact Investment Management Inc. purchased a new position in BRP in the 4th quarter worth $156,000.

About BRP

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.