BRP (NASDAQ:DOOO) Upgraded to “Neutral” at Citigroup

BRP (NASDAQ:DOOO) was upgraded by equities researchers at Citigroup from a “sell” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $37.00 price objective on the stock, up from their previous price objective of $27.00. Citigroup’s target price suggests a potential upside of 4.64% from the stock’s current price.

Other research analysts have also issued reports about the stock. TD Securities restated a “hold” rating on shares of BRP in a research note on Thursday, March 27th. Raymond James reissued a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BRP currently has an average rating of “Hold” and an average price target of $61.25.

BRP Stock Down 0.1 %

BRP stock opened at $35.36 on Friday. The company has a market capitalization of $2.58 billion, a P/E ratio of 18.81 and a beta of 1.71. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. BRP has a fifty-two week low of $33.05 and a fifty-two week high of $74.00. The stock has a 50-day simple moving average of $40.77 and a 200-day simple moving average of $48.58.

BRP (NASDAQ:DOOO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. Equities research analysts expect that BRP will post 3.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DOOO. Capital World Investors boosted its holdings in BRP by 101.2% in the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock valued at $100,386,000 after purchasing an additional 991,392 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of BRP by 71.7% in the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after buying an additional 684,651 shares during the period. Turtle Creek Asset Management Inc. boosted its stake in shares of BRP by 29.0% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock valued at $151,118,000 after buying an additional 668,607 shares in the last quarter. FIL Ltd boosted its stake in shares of BRP by 176.2% in the fourth quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after buying an additional 505,228 shares in the last quarter. Finally, Norges Bank acquired a new position in BRP during the fourth quarter worth $15,259,000.

BRP Company Profile

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.