BRP (NASDAQ:DOO) Rating Increased to Outperform at National Bank Financial

BRP (NASDAQ:DOO) was upgraded by equities researchers at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Briefing.com reports.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus cut shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Wall Street Zen raised shares of BRP from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Scotiabank reissued a “sector perform” rating on shares of BRP in a research report on Friday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of BRP in a report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of BRP in a research note on Thursday, July 2nd. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $83.00.

BRP Trading Down 2.1%

DOO traded down $1.30 on Thursday, hitting $62.00. The company had a trading volume of 716,134 shares, compared to its average volume of 306,558. The company has a current ratio of 1.30, a quick ratio of 0.61 and a debt-to-equity ratio of 3.41. The firm has a market cap of $4.55 billion, a P/E ratio of 23.48 and a beta of 0.88. BRP has a 1 year low of $48.83 and a 1 year high of $81.89. The company’s fifty day moving average price is $62.04 and its 200 day moving average price is $63.29.

Institutional Trading of BRP

Several hedge funds and other institutional investors have recently modified their holdings of DOO. Quarry LP acquired a new stake in BRP during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in BRP by 4,070.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock valued at $43,000 after buying an additional 692 shares during the period. Nykredit A S bought a new stake in BRP in the second quarter valued at $61,000. Quadrant Capital Group LLC acquired a new position in shares of BRP during the fourth quarter valued at about $89,000. Finally, State of Wyoming raised its holdings in shares of BRP by 21.4% in the second quarter. State of Wyoming now owns 2,317 shares of the company’s stock valued at $141,000 after purchasing an additional 408 shares during the last quarter.

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.