BRP (NASDAQ:DOOO) Lowered to Sell Rating by Citigroup

Citigroup cut shares of BRP (NASDAQ:DOOO) from a neutral rating to a sell rating in a report published on Thursday morning, Marketbeat reports. The firm currently has $29.00 price target on the stock, down from their previous price target of $48.00.

BRP Trading Down 3.9 %

DOOO opened at $37.21 on Thursday. The stock has a market capitalization of $2.72 billion, a P/E ratio of 19.79 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. BRP has a 12 month low of $36.63 and a 12 month high of $75.59. The firm’s fifty day simple moving average is $44.47 and its 200 day simple moving average is $50.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in BRP by 17.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock valued at $24,159,000 after buying an additional 61,502 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of BRP by 706.1% in the third quarter. Intech Investment Management LLC now owns 26,318 shares of the company’s stock valued at $1,568,000 after purchasing an additional 23,053 shares during the last quarter. DRW Securities LLC bought a new stake in shares of BRP in the third quarter worth $161,000. The Manufacturers Life Insurance Company boosted its holdings in BRP by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after purchasing an additional 150,039 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after purchasing an additional 337 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.