Zacks Investment Research upgraded shares of BRP (NASDAQ:DOOO) from a sell rating to a hold rating in a research report released on Wednesday.
According to Zacks, “BRP Inc. designs, develops, manufactures and distributes recreational vehicles. The Company offers watercrafts, sport boats, snowmobiles, pontoons, marine propulsion systems and all-terrain and utility vehicles, as well as engines for karts, motorcycles and recreational aircrafts. BRP Inc. is headquartered in Valcourt, Canada. “
Several other research analysts have also weighed in on DOOO. National Bank Financial reissued a buy rating on shares of BRP in a research note on Tuesday, November 27th. Canaccord Genuity reissued a buy rating on shares of BRP in a research note on Sunday, December 2nd. GMP Securities started coverage on shares of BRP in a research note on Monday, December 3rd. They set a buy rating on the stock. Finally, TD Securities started coverage on shares of BRP in a research note on Thursday, February 7th. They set a hold rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. BRP presently has an average rating of Buy.
BRP stock opened at $29.45 on Wednesday. BRP has a fifty-two week low of $23.90 and a fifty-two week high of $55.41. The company has a market cap of $2.88 billion and a P/E ratio of 11.96.
BRP (NASDAQ:DOOO) last released its quarterly earnings data on Friday, November 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. BRP had a net margin of 5.20% and a negative return on equity of 103.25%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. On average, analysts forecast that BRP will post 2.29 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in DOOO. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BRP by 31.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,784 shares of the company’s stock worth $72,000 after buying an additional 660 shares during the period. Shell Asset Management Co. acquired a new stake in BRP during the 3rd quarter worth approximately $177,000. Annex Advisory Services LLC acquired a new stake in BRP during the 3rd quarter worth approximately $272,000. CLARET ASSET MANAGEMENT Corp acquired a new stake in BRP during the 3rd quarter worth approximately $300,000. Finally, Bank of New York Mellon Corp acquired a new stake in BRP during the 3rd quarter worth approximately $300,000. Hedge funds and other institutional investors own 29.00% of the company’s stock.
BRP Company Profile
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and propulsion systems worldwide. The company offers all-terrain, side-by-side, and spyder vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircrafts.
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