Polaris (NYSE:PII) Sets New 1-Year Low on Disappointing Earnings

Polaris Inc. (NYSE:PII) hit a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $70.36 and last traded at $70.43, with a volume of 274278 shares trading hands. The stock had previously closed at $72.22.

The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The business’s quarterly revenue was down 23.4% on a year-over-year basis. During the same quarter last year, the business earned $2.71 earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PII. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Thursday, July 25th. KeyCorp reduced their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup decreased their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird dropped their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Bank of America decreased their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.36.

Institutional Trading of Polaris

A number of institutional investors and hedge funds have recently modified their holdings of PII. New England Capital Financial Advisors LLC bought a new position in shares of Polaris during the first quarter valued at $25,000. Blue Trust Inc. boosted its holdings in shares of Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after acquiring an additional 235 shares during the last quarter. Signaturefd LLC grew its stake in shares of Polaris by 1,931.3% in the second quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after acquiring an additional 618 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Polaris during the second quarter valued at approximately $57,000. Institutional investors own 88.06% of the company’s stock.

Polaris Trading Down 3.5 %

The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. The stock’s 50-day moving average is $82.04 and its two-hundred day moving average is $82.04. The company has a market cap of $3.94 billion, a P/E ratio of 10.22, a P/E/G ratio of 7.59 and a beta of 1.51.

About Polaris

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.