BRP (NASDAQ:DOO) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of BRP (NASDAQ:DOO) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

A number of other equities analysts have also recently commented on DOO. Scotiabank reiterated a “sector perform” rating on shares of BRP in a report on Friday, September 4th. National Bank Financial raised BRP from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 3rd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of BRP in a research note on Friday, May 29th. Wall Street Zen lowered BRP from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings cut BRP from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

BRP Stock Up 0.3%

Shares of DOO stock opened at $60.66 on Wednesday. The company has a debt-to-equity ratio of 7.31, a quick ratio of 0.52 and a current ratio of 1.19. The firm’s 50-day moving average is $62.41 and its 200-day moving average is $62.61. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 55.15 and a beta of 0.88. BRP has a 52-week low of $48.83 and a 52-week high of $81.89.

BRP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. BRP’s dividend payout ratio (DPR) is 63.64%.

Institutional Trading of BRP

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in BRP by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,078,181 shares of the company’s stock valued at $65,728,000 after buying an additional 23,055 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of BRP by 65.4% during the second quarter. Tidal Investments LLC now owns 15,415 shares of the company’s stock worth $941,000 after buying an additional 6,095 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of BRP in the second quarter valued at about $79,000. Nykredit A S bought a new stake in shares of BRP in the second quarter valued at about $61,000. Finally, Allianz Asset Management GmbH grew its stake in shares of BRP by 24.5% in the second quarter. Allianz Asset Management GmbH now owns 60,855 shares of the company’s stock valued at $3,716,000 after acquiring an additional 11,966 shares in the last quarter.

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.