BRP (NASDAQ:DOOO) Shares Down 3.8% - What's Next?

BRP Inc. (NASDAQ:DOOO - Get Free Report) shares dropped 3.8% during mid-day trading on Thursday . The stock traded as low as $36.65 and last traded at $37.24. Approximately 70,698 shares were traded during trading, a decline of 49% from the average daily volume of 139,573 shares. The stock had previously closed at $38.73.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered shares of 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 research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $87.80.

BRP Stock Up 5.3 %

The firm's fifty day moving average is $44.18 and its two-hundred day moving average is $50.30. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 20.53 and a beta of 2.03. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57.

Institutional Trading of BRP

Institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC raised its holdings in BRP by 706.1% during the third quarter. Intech Investment Management LLC now owns 26,318 shares of the company's stock worth $1,568,000 after purchasing an additional 23,053 shares in the last quarter. DRW Securities LLC acquired a new position in shares of BRP during the 3rd quarter valued at $161,000. The Manufacturers Life Insurance Company raised its stake in shares of BRP by 13.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company's stock worth $73,027,000 after buying an additional 150,039 shares in the last quarter. Quantbot Technologies LP lifted its holdings 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 buying an additional 337 shares during the period. Finally, De Lisle Partners LLP boosted its stake in BRP by 10.8% during the third quarter. De Lisle Partners LLP now owns 27,605 shares of the company's stock valued at $1,643,000 after buying an additional 2,697 shares in the last quarter.

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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.