BRP (NASDAQ:DOOO) Stock Rating Upgraded by Citigroup

BRP (NASDAQ:DOOO) was upgraded by equities research analysts at Citigroup from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $37.00 target price on the stock, up from their previous target price of $27.00. Citigroup’s price objective suggests a potential upside of 4.64% from the company’s previous close.

DOOO has been the subject of a number of other research reports. TD Securities restated a “hold” rating on shares of BRP in a report on Thursday, March 27th. Raymond James reissued a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BRP currently has an average rating of “Hold” and a consensus price target of $61.25.

BRP Stock Down 0.1 %

NASDAQ:DOOO opened at $35.36 on Friday. BRP has a 52 week low of $33.05 and a 52 week high of $74.00. The stock’s fifty day moving average is $40.77 and its two-hundred day moving average is $48.58. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 18.81 and a beta of 1.71. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last posted its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. Research analysts anticipate that BRP will post 3.15 EPS for the current year.

Institutional Investors Weigh In On BRP

A number of hedge funds and other institutional investors have recently modified their holdings of DOOO. Quadrant Capital Group LLC increased its holdings in BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock valued at $35,000 after buying an additional 490 shares during the last quarter. Signaturefd LLC boosted its position in shares of BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after acquiring an additional 903 shares in the last quarter. Dnca Finance increased its holdings in shares of BRP by 36.1% in the 4th quarter. Dnca Finance now owns 1,390 shares of the company’s stock valued at $71,000 after acquiring an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of BRP during the 4th quarter worth about $77,000. Finally, Intact Investment Management Inc. purchased a new stake in BRP during the fourth quarter worth approximately $148,000.

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.