BRP Inc. (NASDAQ:DOO) Given Consensus Rating of “Hold” by Brokerages

BRP Inc. (NASDAQ:DOO) has earned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $83.00.

Several analysts have issued reports on the stock. Canaccord Genuity Group downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Raymond James Financial cut shares of BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. National Bank Financial downgraded BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 15th. TD Securities reaffirmed a “hold” rating on shares of BRP in a research note on Friday, May 29th. Finally, TD Cowen lowered BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, April 15th.

BRP Price Performance

Shares of NASDAQ DOO opened at $57.93 on Thursday. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 21.86 and a beta of 0.89. BRP has a 52 week low of $47.74 and a 52 week high of $81.89. The company’s 50-day moving average price is $58.20 and its 200 day moving average price is $66.94. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 3.41.

BRP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 30th. BRP’s payout ratio is 26.42%.

Institutional Trading of BRP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its position in BRP by 324.1% during the 1st quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after purchasing an additional 116,189 shares in the last quarter. Entropy Technologies LP purchased a new position in BRP in the 1st quarter valued at about $416,000. Renaissance Technologies LLC lifted its holdings in BRP by 73.7% in the 1st quarter. Renaissance Technologies LLC now owns 16,500 shares of the company’s stock valued at $1,185,000 after purchasing an additional 7,000 shares in the last quarter. Morningstar Investment Management LLC lifted its holdings in BRP by 41.7% in the 1st quarter. Morningstar Investment Management LLC now owns 16,510 shares of the company’s stock valued at $1,187,000 after purchasing an additional 4,857 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of BRP by 18.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,610 shares of the company’s stock worth $3,124,000 after purchasing an additional 6,928 shares during the last quarter.

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.