BRP (NASDAQ:DOOO) Shares Down 3.8% – Here’s Why

BRP Inc. (NASDAQ:DOOO)’s share price fell 3.8% during trading on Thursday . The stock traded as low as $36.65 and last traded at $37.24. 70,698 shares traded hands during trading, a decline of 49% from the average session volume of 139,573 shares. The stock had previously closed at $38.73.

Analyst Ratings Changes

Separately, Citigroup cut shares of BRP from a “neutral” rating to a “sell” rating and dropped their target price for the company from $48.00 to $29.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BRP currently has an average rating of “Hold” and an average price target of $87.80.

BRP Stock Performance

The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The stock’s 50-day moving average is $44.75 and its 200 day moving average is $50.90. The firm has a market cap of $2.69 billion, a P/E ratio of 19.71 and a beta of 2.03.

Institutional Trading of BRP

A number of large investors have recently made changes to their positions in the company. Capital World Investors boosted its stake in BRP by 101.2% in the 4th quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock worth $100,386,000 after purchasing an additional 991,392 shares during the period. Mackenzie Financial Corp raised its stake in shares of BRP by 71.7% in the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after purchasing an additional 684,651 shares during the period. Turtle Creek Asset Management Inc. grew its holdings 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 buying an additional 668,607 shares in the last quarter. FIL Ltd raised its position in BRP by 176.2% in the 4th quarter. FIL Ltd now owns 792,000 shares of the company’s stock valued at $40,337,000 after buying an additional 505,228 shares during the last quarter. Finally, Norges Bank bought a new stake in BRP in the 4th quarter valued at approximately $15,259,000.

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.