BRP (NASDAQ:DOOO) Downgraded to “Sell” Rating by Citigroup

BRP (NASDAQ:DOOO) was downgraded by research analysts at Citigroup from a “neutral” rating to a “sell” rating in a research report issued on Thursday, MarketBeat reports. They presently have a $29.00 price target on the stock, down from their previous price target of $48.00. Citigroup’s target price would suggest a potential downside of 25.12% from the stock’s previous close.

BRP Price Performance

DOOO opened at $38.73 on Thursday. The stock’s 50-day moving average price is $44.75 and its 200 day moving average price is $50.90. BRP has a 12-month low of $36.63 and a 12-month high of $75.59. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 20.60 and a beta of 2.03. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19.

Institutional Trading of BRP

Several hedge funds have recently made changes to their positions in DOOO. Mackenzie Financial Corp increased its stake in BRP by 71.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock worth $83,399,000 after buying an additional 684,651 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of BRP by 401.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company’s stock worth $765,000 after acquiring an additional 12,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of BRP by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock worth $1,823,000 after acquiring an additional 293 shares in the last quarter. Turtle Creek Asset Management Inc. increased its position in shares of BRP by 29.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock worth $151,118,000 after acquiring an additional 668,607 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of BRP by 5.4% in the fourth quarter. Systematic Financial Management LP now owns 202,425 shares of the company’s stock valued at $10,297,000 after acquiring an additional 10,341 shares in the last quarter.

BRP Company Profile

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.