BRP (NASDAQ:DOOO) Shares Down 2.4% – Time to Sell?

BRP Inc. (NASDAQ:DOOO)’s share price dropped 2.4% on Thursday . The stock traded as low as $57.17 and last traded at $57.93. 232,097 shares traded hands during mid-day trading, a decline of 2% from the average daily 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 issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

BRP Trading Up 0.7%

The firm has a 50-day moving average of $58.29 and a 200 day moving average of $66.91. The company has a current ratio of 1.23, a quick ratio of 0.49 and a debt-to-equity ratio of 4.31. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 159.65 and a beta of 1.26.

Institutional Trading of BRP

A number of large investors have recently added to or reduced their stakes in DOOO. JPMorgan Chase & Co. lifted its stake in BRP by 1,057.4% during the third quarter. JPMorgan Chase & Co. now owns 1,088 shares of the company’s stock valued at $66,000 after buying an additional 994 shares in the last quarter. PharVision Advisers LLC purchased a new stake in shares of BRP in the 3rd quarter valued at approximately $455,000. Virtus Advisers LLC acquired a new position in BRP in the 3rd quarter worth approximately $114,000. Quarry LP purchased a new position in BRP during the 3rd quarter worth approximately $74,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of BRP by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 18,826 shares of the company’s stock valued at $1,145,000 after buying an additional 3,520 shares in the last quarter.

About BRP

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.