BRP (NASDAQ:DOOO) Sets New 1-Year Low on Analyst Downgrade

Shares of BRP Inc. (NASDAQ:DOOO – Get Rating) hit a fresh 52-week low midday on Friday after National Bank Financial lowered its price target on the stock from C$128.00 at CA$124.00. The stock traded as low as $66.27 and last traded at $66.30, with a volume of 1171 shares traded. The stock previously closed at $69.31.

Other research analysts have also recently published research reports on the stock. CIBC raised its price target on BRP shares from C$134.00 to C$135.00 and gave the stock an “outperform” rating in a Thursday, Dec. 2 research report. Scotiabank assumed coverage from BRP in a research report on Friday, Dec. 17. They issued an “outperformance” rating on the stock. National Bankshares lowered its price target on BRP from CA$135.00 to CA$131.00 and set an “outperform” rating for the stock in a Wednesday, November 24 research note. Zacks Investment Research upgraded BRP from a “sell” rating to a “hold” rating in a Friday, Dec. 3 research note. Finally, they raised their target price on BRP shares from C$125.00 to C$130.00 and gave the stock a “buy” rating in a Thursday, Dec. 2 research note. One research analyst has assigned the stock a hold rating, fifteen have issued a buy rating and one has assigned the company a strong buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $133.14.

Hedge funds have recently changed their stakes in the company. Mackenzie Financial Corp increased its stake in BRP shares by 20.2% in the fourth quarter. Mackenzie Financial Corp now owns 5,746,540 shares of the company valued at $503,373,000 after purchasing an additional 966,038 shares during the period. FIL Ltd increased its stake in BRP by 42.0% in the third quarter. FIL Ltd now owns 1,617,904 shares of the company valued at $149,757,000 after acquiring an additional 478,167 shares in the last quarter. Artemis Investment Management LLP increased its position in BRP by 6.6% in the fourth quarter. Artemis Investment Management LLP now owns 733,009 shares of the company worth $64,297,000 after acquiring an additional 45,171 shares during the period. FMR LLC increased its stake in BRP by 700.7% during the first quarter. FMR LLC now owns 655,115 shares of the company worth $18,178,000 after acquiring an additional 573,296 shares in the last quarter. Finally, Morgan Stanley increased its stake in BRP by 40.6% during the second quarter. Morgan Stanley now owns 547,611 shares of the company worth $42,912,000 after acquiring an additional 158,122 shares in the last quarter. 53.84% of the shares are currently held by institutional investors.

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The company has a market capitalization of $5.35 billion, a price-earnings ratio of 9.02 and a beta of 2.70. The company has a 50-day moving average price of $79.62 and a 200-day moving average price of $85.15.

BRP (NASDAQ:DOOO – Get Rating) last released its quarterly earnings data on Wednesday, December 1. The company reported earnings per share (EPS) of $1.48 for the quarter, beating the consensus estimate of $0.94 by $0.54. The company posted revenue of $1.59 billion for the quarter, compared to analysts’ estimates of $1.76 billion. BRP had a net margin of 11.90% and a negative return on equity of 223.71%. During the same period of the previous year, the company achieved EPS of $1.60. Research analysts predict that BRP Inc. will post earnings per share of 7.41 for the current year.

BRP Company Profile (NASDAQ: DOOO)

BRP, Inc is a holding company engaged in the design, development, manufacture, distribution and marketing of powersports vehicles and marine products. The Company operates through Powersports and Marine segments. The Powersports segment includes year-round products, seasonal products, and PA&A and OEM engines for powersports.

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