BRP (NASDAQ:DOOO) Shares Down 2.4% – Should You Sell?

BRP Inc. (NASDAQ:DOOO)’s share price fell 2.4% during trading on Thursday . The company traded as low as $57.17 and last traded at $57.93. 232,097 shares were traded during trading, a decline of 2% from the average session volume of 237,803 shares. The stock had previously closed at $59.38.

Wall Street Analyst Weigh In

Separately, UBS Group reaffirmed a “neutral” rating on shares of BRP in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, BRP has an average rating of “Moderate Buy” and an average target price of $94.75.

BRP Stock Performance

The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 156.57 and a beta of 1.26. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.23 and a quick ratio of 0.49. The stock has a 50 day simple moving average of $58.18 and a two-hundred day simple moving average of $66.96.

Institutional Investors Weigh In On BRP

Several institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its holdings in BRP by 905.8% in the second quarter. Osaic Holdings Inc. now owns 694 shares of the company’s stock valued at $34,000 after purchasing an additional 625 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of BRP in the 2nd quarter valued at $60,000. JPMorgan Chase & Co. grew its position in shares of BRP by 1,057.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,088 shares of the company’s stock valued at $66,000 after buying an additional 994 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in BRP during the 1st quarter worth $70,000. Finally, Quarry LP purchased a new stake in BRP in the third quarter valued at $74,000.

BRP Company Profile

BRP Inc, operating under the brand name Bombardier Recreational Products, is a leader in designing, manufacturing and distributing recreational vehicles and propulsion systems for winter, on-road, off-road and water lifestyles. The company’s diversified portfolio includes snowmobiles, personal watercraft, all-terrain vehicles and roadsters, all powered by in-house Rotax engines. With a focus on innovation and performance, BRP has positioned itself at the forefront of the powersports industry.

At the heart of BRP’s product lineup are its flagship Ski-Doo snowmobiles and Sea-Doo personal watercraft, which serve both recreational and professional segments.