BRP (NASDAQ:DOOO) Cut to “Sell” at Citigroup

BRP (NASDAQ:DOOO) was downgraded by investment analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, MarketBeat.com reports. They presently have a $29.00 target price on the stock, down from their previous target price of $48.00. Citigroup’s target price points to a potential downside of 20.87% from the company’s current price.

BRP Trading Down 1.5 %

Shares of BRP stock opened at $36.65 on Thursday. BRP has a 52-week low of $36.27 and a 52-week high of $75.59. The stock has a market cap of $2.68 billion, a PE ratio of 19.49 and a beta of 2.03. The firm has a 50-day moving average of $44.18 and a 200-day moving average of $50.56. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its position in BRP by 259.3% during the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock worth $35,000 after buying an additional 490 shares in the last quarter. Signaturefd LLC lifted 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 valued at $61,000 after acquiring an additional 903 shares during the period. Dnca Finance grew its holdings in shares of BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company’s stock worth $71,000 after purchasing an additional 369 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of BRP in the fourth quarter worth $77,000. Finally, DRW Securities LLC acquired a new position in BRP in the third quarter valued at about $161,000.

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.