BRP (TSE:DOO) Downgraded to Sell Rating by Citigroup

BRP (TSE:DOO) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$41.00 price objective on the stock, down from their prior price objective of C$70.00. Citigroup’s target price indicates a potential downside of 22.79% from the stock’s previous close.

A number of other research firms have also weighed in on DOO. TD Securities dropped their price objective on BRP from C$83.00 to C$70.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. DA Davidson decreased their target price on BRP from C$96.00 to C$88.00 in a research report on Tuesday, December 10th. Canaccord Genuity Group decreased their target price on BRP from C$88.00 to C$80.00 in a research report on Wednesday, November 27th. Scotiabank decreased their target price on BRP from C$91.00 to C$86.00 and set a “sector perform” rating on the stock in a research report on Monday, December 9th. Finally, National Bankshares decreased their target price on BRP from C$84.00 to C$72.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$83.67.

BRP Stock Down 4.3 %

Shares of DOO stock traded down C$2.40 during mid-day trading on Thursday, hitting C$53.10. The company’s stock had a trading volume of 212,787 shares, compared to its average volume of 160,610. BRP has a 52-week low of C$52.51 and a 52-week high of C$102.46. The business has a 50-day moving average price of C$64.26 and a 200 day moving average price of C$71.99. The company has a debt-to-equity ratio of 573.79, a quick ratio of 0.20 and a current ratio of 1.37. The stock has a market cap of C$3.91 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.05 and a beta of 2.28.

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.