BMO Capital Markets downgraded shares of BRP (NASDAQ:DOOO) from an outperform rating to a market perform rating in a report released on Monday morning, BenzingaRatingsTable reports. BMO Capital Markets currently has $26.00 price objective on the stock, down from their prior price objective of $72.00.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of BRP from a buy rating to a sell rating in a report on Tuesday, February 25th. Northcoast Research cut shares of BRP from a buy rating to a neutral rating in a report on Friday, February 21st. Royal Bank of Canada reiterated a buy rating and issued a $77.00 price objective on shares of BRP in a report on Wednesday, March 4th. BidaskClub cut shares of BRP from a sell rating to a strong sell rating in a report on Friday, March 20th. Finally, ValuEngine upgraded shares of BRP from a strong sell rating to a sell rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $50.34.
BRP stock opened at $18.83 on Monday. The firm has a 50 day simple moving average of $39.83 and a 200-day simple moving average of $43.35. The stock has a market capitalization of $1.26 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 0.30 and a beta of 2.01. BRP has a 12-month low of $12.97 and a 12-month high of $56.89.
Hedge funds have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can lifted its stake in BRP by 4.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,337 shares of the company’s stock valued at $242,000 after purchasing an additional 213 shares during the last quarter. ARP Americas LP acquired a new stake in BRP during the fourth quarter valued at approximately $565,000. PCJ Investment Counsel Ltd. acquired a new stake in BRP during the fourth quarter valued at approximately $753,000. Mckinley Capital Management LLC Delaware acquired a new stake in BRP during the fourth quarter valued at approximately $783,000. Finally, SG Americas Securities LLC acquired a new stake in BRP during the fourth quarter valued at approximately $1,212,000. 29.12% of the stock is owned by institutional investors and hedge funds.
BRP Company Profile
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.
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