BRP (NASDAQ:DOOO) Shares Gap Down to $66.08

Shares of BRP Inc. (NASDAQ:DOOO) gapped down prior to trading on Friday . The stock had previously closed at $66.08, but opened at $61.00. BRP shares last traded at $65.34, with a volume of 126,734 shares changing hands.

Analyst Upgrades and Downgrades

DOOO has been the subject of a number of recent research reports. Stifel Nicolaus downgraded BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. CIBC reduced their target price on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a report on Monday, June 3rd. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Finally, Citigroup upped their price objective on BRP from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.75.

BRP Stock Down 4.5 %

The firm has a market capitalization of $4.68 billion, a PE ratio of 11.95 and a beta of 2.07. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.35 and a quick ratio of 0.46. The company has a 50-day moving average price of $68.20 and a 200 day moving average price of $67.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOOO. UniSuper Management Pty Ltd grew its holdings in BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. Scotia Capital Inc. increased its position in BRP by 1.5% in the fourth quarter. Scotia Capital Inc. now owns 22,246 shares of the company’s stock worth $1,588,000 after purchasing an additional 318 shares during the last quarter. Bank of New York Mellon Corp raised its stake in BRP by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after purchasing an additional 520 shares in the last quarter. Addenda Capital Inc. lifted its position in BRP by 5.3% during the first quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock valued at $710,000 after purchasing an additional 528 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC purchased a new position in shares of BRP in the 1st quarter worth $50,000.

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.