BRP (DOOO) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of BRP (NASDAQ:DOOO) from a hold rating to a sell rating in a research note published on Tuesday morning.
According to Zacks, “BRP Inc. designs, develops, manufactures and distributes recreational vehicles. The Company offers watercrafts, sport boats, snowmobiles, pontoons, marine propulsion systems and all-terrain and utility vehicles, as well as engines for karts, motorcycles and recreational aircrafts. BRP Inc. is headquartered in Valcourt, Canada. “
Other research analysts have also issued research reports about the company. GMP Securities started coverage on BRP in a research report on Monday, December 3rd. They set a buy rating for the company. Canaccord Genuity restated a buy rating on shares of BRP in a research report on Sunday, December 2nd. National Bank Financial restated a buy rating on shares of BRP in a research report on Tuesday, November 27th. Desjardins restated a buy rating on shares of BRP in a research report on Tuesday, October 9th. Finally, UBS Group started coverage on BRP in a research report on Tuesday, October 9th. They set a buy rating for the company. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The company presently has an average rating of Buy.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 28th will be paid a dividend of $0.0679 per share. This represents a $0.27 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, December 27th.
A number of institutional investors have recently made changes to their positions in DOOO. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in BRP during the 3rd quarter valued at $100,000. Shell Asset Management Co. bought a new stake in BRP during the 3rd quarter valued at $177,000. Annex Advisory Services LLC bought a new stake in BRP during the 3rd quarter valued at $272,000. Bank of New York Mellon Corp bought a new stake in BRP during the 3rd quarter valued at $300,000. Finally, CLARET ASSET MANAGEMENT Corp bought a new stake in BRP during the 3rd quarter valued at $300,000. 28.61% of the stock is currently owned by hedge funds and other institutional investors.
BRP Company Profile
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and propulsion systems worldwide. The company offers all-terrain, side-by-side, and spyder vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircrafts.
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