BRP (NASDAQ:DOOO) Shares Down 3.8% – What’s Next?

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

Wall Street Analyst Weigh In

Separately, Citigroup lowered BRP from a “neutral” rating to a “sell” rating and lowered their price target 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.80.

BRP Trading Down 1.5 %

The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 19.49 and a beta of 2.03. The firm’s 50 day moving average is $44.18 and its two-hundred day moving average is $50.56. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

Institutional Trading of BRP

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Turtle Creek Asset Management Inc. raised its holdings in shares of BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company’s stock worth $151,118,000 after purchasing an additional 668,607 shares in the last quarter. Capital World Investors increased its holdings in shares of BRP by 101.2% in the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company’s stock valued at $100,386,000 after buying an additional 991,392 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of BRP by 71.7% during the 4th quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company’s stock valued at $83,399,000 after acquiring an additional 684,651 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of BRP by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company’s stock valued at $77,223,000 after acquiring an additional 288,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of BRP by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after acquiring an additional 150,039 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.