Desjardins Downgrades BRP (NASDAQ:DOOO) to Hold

BRP (NASDAQ:DOOO) was downgraded by Desjardins from a “moderate buy” rating to a “hold” rating in a note issued to investors on Sunday, Zacks.com reports.

Several other research firms have also issued reports on DOOO. CIBC decreased their price target on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a research report on Monday, June 3rd. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. National Bank Financial lowered shares of BRP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 21st. Citigroup decreased their price target on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research report on Monday. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.40.

BRP Stock Performance

Shares of DOOO opened at $58.67 on Friday. The company has a market capitalization of $4.35 billion, a PE ratio of 10.61 and a beta of 2.07. BRP has a one year low of $57.15 and a one year high of $79.40. 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’s fifty day moving average price is $68.09 and its 200 day moving average price is $66.95.

Hedge Funds Weigh In On BRP

A number of large investors have recently modified their holdings of the stock. Aristides Capital LLC acquired a new position in shares of BRP during the second quarter worth approximately $241,000. The Manufacturers Life Insurance Company lifted its holdings in BRP by 61.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after buying an additional 408,692 shares during the period. Dimension Capital Management LLC lifted its holdings in BRP by 73.6% in the second quarter. Dimension Capital Management LLC now owns 11,098 shares of the company’s stock valued at $711,000 after buying an additional 4,706 shares during the period. Sei Investments Co. lifted its holdings in BRP by 31.3% in the second quarter. Sei Investments Co. now owns 105,163 shares of the company’s stock valued at $6,734,000 after buying an additional 25,041 shares during the period. Finally, Intech Investment Management LLC acquired a new position in BRP in the second quarter valued at approximately $209,000.

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.