Assenagon Asset Management S.A. Invests $2.21 Million in Polaris Inc. (NYSE:PII)

Assenagon Asset Management S.A. purchased a new stake in Polaris Inc. (NYSE:PII) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 38,373 shares of the company’s stock, valued at approximately $2,211,000. Assenagon Asset Management S.A. owned 0.07% of Polaris at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Polaris by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after acquiring an additional 171,366 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Polaris in the 3rd quarter valued at about $12,670,000. Weiss Asset Management LP acquired a new stake in shares of Polaris in the third quarter valued at about $10,844,000. Dimensional Fund Advisors LP boosted its holdings in Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after buying an additional 96,194 shares in the last quarter. Finally, Kiltearn Partners LLP grew its position in Polaris by 147.9% during the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after buying an additional 92,300 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Trading Down 2.4 %

Shares of PII stock opened at $53.74 on Thursday. Polaris Inc. has a twelve month low of $52.77 and a twelve month high of $100.91. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 5.30 and a beta of 1.53. The firm has a 50-day moving average price of $61.14 and a 200 day moving average price of $73.14. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last posted its quarterly earnings data 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $2.71 EPS. The business’s quarterly revenue was down 23.4% on a year-over-year basis. Research analysts forecast that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PII has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price objective (down from $81.00) on shares of Polaris in a report on Tuesday. 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 report on Monday, December 30th. DA Davidson cut their price target on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average price target of $77.82.

Polaris 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.