BRP (NASDAQ:DOO) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of BRP (NASDAQ:DOO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

DOO has been the subject of several other research reports. National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 15th. Scotiabank reissued a “sector perform” rating on shares of BRP in a research note on Friday, July 24th. UBS Group reduced their price target on shares of BRP from $78.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Zacks Research raised shares of BRP from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, BRP currently has a consensus rating of “Hold” and an average target price of $83.00.

BRP Price Performance

Shares of DOO opened at $61.83 on Friday. The firm has a market cap of $4.54 billion, a PE ratio of 23.33 and a beta of 0.89. BRP has a 52-week low of $48.67 and a 52-week high of $81.89. The business’s 50 day moving average price is $59.96 and its two-hundred day moving average price is $65.62. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP’s dividend payout ratio is presently 26.42%.

Institutional Trading of BRP

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