BRP (NASDAQ:DOOO) Downgraded to "Neutral" Rating by Citigroup

BRP (NASDAQ:DOOO - Get Free Report) was downgraded by investment analysts at Citigroup from a "buy" rating to a "neutral" rating in a report issued on Monday, Marketbeat Ratings reports.

BRP Stock Down 4.2 %

NASDAQ DOOO traded down $1.92 during trading on Monday, reaching $43.57. 852,562 shares of the company's stock were exchanged, compared to its average volume of 211,294. 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 fifty-two week low of $41.10 and a fifty-two week high of $75.59. The company's fifty day simple moving average is $50.72 and its 200-day simple moving average is $56.78. The firm has a market capitalization of $3.18 billion, a PE ratio of 23.18 and a beta of 2.02.

BRP (NASDAQ:DOOO - Get Free Report) last issued its quarterly earnings data on Friday, December 6th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. Sell-side analysts predict that BRP will post 3.15 EPS for the current year.

Hedge Funds Weigh In On BRP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock valued at $43,461,000 after purchasing an additional 214,626 shares during the period. The Manufacturers Life Insurance Company raised its position in BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company's stock valued at $73,027,000 after buying an additional 150,039 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of BRP by 154.5% in the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company's stock worth $7,347,000 after purchasing an additional 70,819 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock worth $3,875,000 after purchasing an additional 66,627 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock worth $24,159,000 after buying an additional 61,502 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.