BRP (NASDAQ:DOOO) Stock Rating Lowered by Citigroup

Citigroup cut shares of BRP (NASDAQ:DOOO) from a neutral rating to a sell rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has $29.00 target price on the stock, down from their prior target price of $48.00.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $36.65 on Thursday. The company’s fifty day moving average price is $44.18 and its 200 day moving average price is $50.43. BRP has a 1 year low of $36.27 and a 1 year high of $75.59. The company has a market capitalization of $2.68 billion, a PE ratio of 19.49 and a beta of 2.03. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

Hedge Funds Weigh In On BRP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. CIBC Asset Management Inc lifted its holdings in BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after purchasing an additional 16,379 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after purchasing an additional 61,502 shares during the period. Alberta Investment Management Corp raised its stake in BRP by 44.2% during the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock worth $2,408,000 after purchasing an additional 14,500 shares during the period. Van ECK Associates Corp raised its stake in BRP by 699.9% during the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after purchasing an additional 66,627 shares during the period. Finally, Geode Capital Management LLC raised its stake in BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after purchasing an additional 15,892 shares during the period.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.