DA Davidson Cuts Polaris (NYSE:PII) Price Target to $69.00

Polaris (NYSE:PII) had its price objective reduced by DA Davidson from $84.00 to $69.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on PII. Robert W. Baird lowered their target price on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. Truist Financial lowered their target price on Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reduced their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.60.

Polaris Stock Performance

Shares of NYSE PII opened at $55.47 on Friday. 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 stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 4.84 and a beta of 1.53. The stock’s fifty day simple moving average is $61.91 and its 200 day simple moving average is $73.55. Polaris has a 52-week low of $52.77 and a 52-week high of $100.91.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. The business’s quarterly revenue was down 23.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Polaris will post 3.22 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.66 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.76%. Polaris’s dividend payout ratio is presently 73.74%.

Hedge Funds Weigh In On Polaris

Large investors have recently made changes to their positions in the business. Kiltearn Partners LLP increased its stake in Polaris by 147.9% during the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after acquiring an additional 92,300 shares during the period. FMR LLC grew its stake in shares of Polaris by 22.0% in the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after purchasing an additional 24,103 shares during the period. Quantinno Capital Management LP grew its stake in shares of Polaris by 545.1% in the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock valued at $2,231,000 after purchasing an additional 22,648 shares during the period. Victory Capital Management Inc. grew its stake in shares of Polaris by 167.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after purchasing an additional 27,375 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Polaris by 8,867.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock valued at $5,322,000 after purchasing an additional 63,225 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.