BRP (NASDAQ:DOOO) Downgraded by Zacks Investment Research to “Sell”

BRP (NASDAQ:DOOO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “BRP Inc. designs, develops, manufactures and distributes recreational vehicles. The Company offers watercrafts, sport boats, snowmobiles, pontoons, marine propulsion systems and all-terrain and utility vehicles, as well as engines for karts, motorcycles and recreational aircrafts. BRP Inc. is headquartered in Valcourt, Canada. “

DOOO has been the topic of several other reports. TD Securities raised their price objective on BRP from C$120.00 to C$140.00 and gave the company a “buy” rating in a research note on Friday, September 3rd. National Bankshares dropped their target price on BRP from C$135.00 to C$131.00 and set an “outperform” rating for the company in a research report on Wednesday. Northcoast Research upgraded BRP from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 11th. CIBC upgraded BRP from a “neutral” rating to an “outperform” rating in a research report on Friday, September 3rd. Finally, Stifel Nicolaus increased their target price on BRP from C$125.00 to C$150.00 and gave the company a “buy” rating in a research report on Friday, September 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $131.00.

NASDAQ:DOOO traded up $1.43 during trading hours on Thursday, hitting $82.44. The company’s stock had a trading volume of 103,707 shares, compared to its average volume of 89,263. The stock has a fifty day simple moving average of $92.50. The stock has a market capitalization of $6.65 billion, a P/E ratio of 10.14 and a beta of 2.72. BRP has a twelve month low of $52.79 and a twelve month high of $102.96.

BRP (NASDAQ:DOOO) last released its quarterly earnings data on Wednesday, September 1st. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $1.04 by $1.85. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.72 billion. BRP had a negative return on equity of 209.67% and a net margin of 12.76%. The firm’s revenue for the quarter was up 54.4% compared to the same quarter last year. On average, sell-side analysts anticipate that BRP will post 7.33 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of DOOO. Mackenzie Financial Corp grew its stake in BRP by 17.6% during the second quarter. Mackenzie Financial Corp now owns 5,814,474 shares of the company’s stock worth $454,549,000 after purchasing an additional 868,626 shares during the period. FMR LLC grew its stake in BRP by 700.7% during the first quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after purchasing an additional 573,296 shares during the period. FIL Ltd grew its stake in BRP by 42.0% during the third quarter. FIL Ltd now owns 1,617,904 shares of the company’s stock worth $149,757,000 after purchasing an additional 478,167 shares during the period. Intact Investment Management Inc. grew its stake in BRP by 449.2% during the second quarter. Intact Investment Management Inc. now owns 431,660 shares of the company’s stock worth $41,806,000 after purchasing an additional 353,060 shares during the period. Finally, Credit Suisse AG grew its stake in BRP by 126.1% during the third quarter. Credit Suisse AG now owns 324,684 shares of the company’s stock worth $30,092,000 after purchasing an additional 181,054 shares during the period. Institutional investors own 30.04% of the company’s stock.

BRP Company Profile

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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Analyst Recommendations for BRP (NASDAQ:DOOO)

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