BRP Inc. (NASDAQ:DOO) Receives Consensus Rating of “Hold” from Brokerages

Shares of BRP Inc. (NASDAQ:DOO) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $83.00.

Several equities research analysts recently weighed in on DOO shares. TD Securities upgraded BRP from a “hold” rating to a “buy” rating in a report on Tuesday, August 18th. UBS Group decreased their price target on BRP from $78.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. Scotiabank reissued a “sector perform” rating on shares of BRP in a research note on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BRP in a report on Friday, May 29th.

BRP Stock Up 3.1%

Shares of NASDAQ:DOO opened at $62.12 on Friday. The stock has a market capitalization of $4.56 billion, a P/E ratio of 23.44 and a beta of 0.88. The stock’s 50-day moving average price is $61.88 and its 200-day moving average price is $63.74. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 3.41. BRP has a 12-month low of $48.83 and a 12-month high of $81.89.

Hedge Funds Weigh In On BRP

Hedge funds have recently modified their holdings of the company. VELA Investment Management LLC bought a new position in shares of BRP during the fourth quarter valued at about $1,651,000. Walleye Capital LLC increased its holdings in BRP by 224.1% during the 2nd quarter. Walleye Capital LLC now owns 29,035 shares of the company’s stock valued at $1,772,000 after purchasing an additional 20,077 shares during the period. Triasima Portfolio Management inc. purchased a new position in BRP during the 4th quarter valued at about $5,551,000. Dimensional Fund Advisors LP raised its position in BRP by 11.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 206,229 shares of the company’s stock valued at $14,805,000 after purchasing an additional 20,786 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position 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 during 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.