Polaris (NYSE:PII) Sets New 52-Week Low Following Analyst Downgrade

Polaris Inc. (NYSE:PII)’s share price reached a new 52-week low during mid-day trading on Wednesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $55.50 and last traded at $56.07, with a volume of 91350 shares. The stock had previously closed at $58.11.

A number of other equities analysts have also weighed in on PII. DA Davidson dropped their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Truist Financial lowered their price objective on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday. Royal Bank of Canada decreased their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Finally, Robert W. Baird dropped their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Polaris currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of Polaris by 23.5% during the second quarter. Commonwealth Equity Services LLC now owns 27,957 shares of the company’s stock valued at $2,189,000 after buying an additional 5,320 shares during the period. National Bank of Canada FI raised its holdings in shares of Polaris by 27.9% in the 2nd quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after purchasing an additional 200 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Polaris by 44.2% in the 2nd quarter. Victory Capital Management Inc. now owns 16,387 shares of the company’s stock worth $1,283,000 after purchasing an additional 5,021 shares during the period. Arizona State Retirement System boosted its stake in shares of Polaris by 1.9% during the second quarter. Arizona State Retirement System now owns 15,021 shares of the company’s stock valued at $1,176,000 after purchasing an additional 277 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Polaris during the second quarter valued at approximately $90,000. 88.06% of the stock is owned by institutional investors.

Polaris Stock Down 4.4 %

The business’s 50 day moving average is $63.96 and its 200 day moving average is $74.64. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company has a market cap of $3.10 billion, a P/E ratio of 15.51, a P/E/G ratio of 6.59 and a beta of 1.53.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. 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 the consensus estimate of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company’s revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, equities analysts anticipate that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.75%. The ex-dividend date was Monday, December 2nd. Polaris’s dividend payout ratio is presently 73.74%.

Polaris Company Profile

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.