BRP (NASDAQ:DOOO) Price Target Cut to $65.00

BRP (NASDAQ:DOOO) had its price target dropped by research analysts at UBS Group from $66.00 to $65.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 3.78% from the company’s current price.

A number of other brokerages have also issued reports on DOOO. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Desjardins lowered shares of BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Citigroup dropped their price target on BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, National Bank Financial lowered BRP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.00.

BRP Stock Performance

Shares of BRP stock opened at $62.63 on Friday. The firm has a market capitalization of $4.64 billion, a P/E ratio of 11.33 and a beta of 2.07. BRP has a 52 week low of $57.15 and a 52 week high of $79.40. The company has a quick ratio of 0.46, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The firm’s 50 day moving average is $67.84 and its two-hundred day moving average is $66.80.

Hedge Funds Weigh In On BRP

A number of institutional investors and hedge funds have recently made changes to their positions in DOOO. The Manufacturers Life Insurance Company boosted its holdings in BRP by 61.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock worth $68,850,000 after buying an additional 408,692 shares in the last quarter. American Century Companies Inc. lifted its position in shares of BRP by 45.6% during the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after acquiring an additional 335,715 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of BRP by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock worth $50,975,000 after acquiring an additional 184,313 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 539.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 559,543 shares of the company’s stock worth $40,105,000 after acquiring an additional 471,986 shares during the period. Finally, National Bank of Canada FI increased its stake in BRP by 13.5% in the 2nd quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock valued at $30,455,000 after purchasing an additional 56,954 shares in the last quarter.

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.