Citigroup Downgrades BRP (NASDAQ:DOOO) to Sell

BRP (NASDAQ:DOOO) was downgraded by equities researchers at Citigroup from a “neutral” rating to a “sell” rating in a report released on Thursday, Marketbeat.com reports. They currently have a $29.00 price objective on the stock, down from their previous price objective of $48.00. Citigroup’s target price would indicate a potential downside of 20.87% from the stock’s previous close.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $36.65 on Thursday. The stock has a market capitalization of $2.68 billion, a PE ratio of 19.49 and a beta of 2.03. BRP has a 52 week low of $36.27 and a 52 week high of $75.59. The stock has a 50 day moving average price of $44.18 and a 200 day moving average price of $50.56. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

Hedge Funds Weigh In On BRP

A number of institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company’s stock valued at $1,823,000 after acquiring an additional 293 shares during the period. Quantbot Technologies LP raised its position in shares of 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 during the period. 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. Quadrant Capital Group LLC boosted its holdings 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 period. Finally, Signaturefd LLC grew its stake in BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after buying an additional 903 shares during the last quarter.

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.