BRP (NASDAQ:DOO) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of BRP (NASDAQ:DOO) from a strong sell rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on DOO. TD Cowen downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Seaport Research Partners lowered BRP from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 15th. Wells Fargo & Company started coverage on BRP in a report on Wednesday, March 11th. They issued an “overweight” rating for the company. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Finally, Raymond James Financial lowered BRP from a “strong-buy” rating to a “market perform” rating in a research note on Friday, April 24th. 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, the stock presently has an average rating of “Hold” and a consensus price target of $83.00.

BRP Stock Performance

NASDAQ:DOO opened at $58.71 on Tuesday. 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 firm has a market capitalization of $4.33 billion, a PE ratio of 22.15 and a beta of 0.89. BRP has a fifty-two week low of $47.74 and a fifty-two week high of $81.89. The business’s fifty day moving average is $58.03.

BRP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. BRP’s dividend payout ratio is currently 27.17%.

Institutional Investors Weigh In On BRP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in BRP in the fourth quarter valued at $30,000. Signaturefd LLC purchased a new position in shares of BRP during the 4th quarter worth $43,000. Quadrant Capital Group LLC acquired a new stake in shares of BRP during the 4th quarter worth about $89,000. PNC Financial Services Group Inc. purchased a new stake in BRP in the 4th quarter valued at about $142,000. Finally, Intact Investment Management Inc. purchased a new stake in BRP in the 4th quarter valued at about $156,000.

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.