BRP (NASDAQ:DOOO) Shares Down 2.2% – Here’s What Happened

BRP Inc. (NASDAQ:DOOO)’s share price was down 2.2% during trading on Thursday . The stock traded as low as $59.82 and last traded at $61.14. Approximately 226,298 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 237,803 shares. The stock had previously closed at $62.49.

Wall Street Analysts Forecast Growth

Separately, UBS Group reissued a “neutral” rating on shares of BRP in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BRP has an average rating of “Moderate Buy” and an average target price of $94.75.

BRP Stock Performance

The stock has a 50-day simple moving average of $59.67 and a 200-day simple moving average of $65.70. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.23 and a quick ratio of 0.49. The stock has a market cap of $4.47 billion, a PE ratio of 165.24 and a beta of 1.26.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in BRP during the first quarter worth approximately $207,000. Jones Financial Companies Lllp boosted its position in BRP by 28,660.0% during the 1st quarter. Jones Financial Companies Lllp now owns 21,570 shares of the company’s stock worth $729,000 after purchasing an additional 21,495 shares during the period. Goldman Sachs Group Inc. boosted its position in BRP by 144.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 723,443 shares of the company’s stock worth $24,460,000 after purchasing an additional 427,434 shares during the period. Jane Street Group LLC increased its holdings in BRP by 110.9% in the 1st quarter. Jane Street Group LLC now owns 138,051 shares of the company’s stock valued at $4,663,000 after purchasing an additional 72,581 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in BRP in the 1st quarter valued at $70,000.

BRP Company Profile

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.