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

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

Analyst Upgrades and Downgrades

Separately, Citigroup cut shares of BRP from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $48.00 to $29.00 in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BRP has a consensus rating of “Hold” and a consensus price target of $87.80.

BRP Trading Down 4.7 %

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

Institutional Trading of BRP

Large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of BRP by 259.3% during the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company’s stock worth $35,000 after buying an additional 490 shares during the last quarter. Signaturefd LLC lifted its stake in shares of BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock worth $61,000 after buying an additional 903 shares during the last quarter. Dnca Finance lifted its stake 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 buying an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of BRP during the 4th quarter worth about $77,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of BRP during the 4th quarter worth about $148,000.

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.