Polaris (NYSE:PII) Price Target Cut to $45.00 by Analysts at Bank of America

Polaris (NYSE:PII) had its price target lowered by Bank of America from $55.00 to $45.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently commented on PII. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price objective (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. UBS Group dropped their price target on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Robert W. Baird cut their target price on shares of Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday. Finally, DA Davidson lowered their price objective on shares of Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Polaris currently has an average rating of “Hold” and an average target price of $61.50.

Polaris Stock Up 3.9 %

Shares of Polaris stock opened at $44.00 on Monday. The company has a 50-day simple moving average of $48.34 and a two-hundred day simple moving average of $63.66. The stock has a market capitalization of $2.47 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. Polaris has a 52-week low of $39.79 and a 52-week high of $100.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, analysts anticipate that Polaris will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.67 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.09%. Polaris’s payout ratio is 136.73%.

Institutional Investors Weigh In On Polaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Polaris by 16.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,970 shares of the company’s stock worth $229,000 after buying an additional 551 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Polaris in the 4th quarter worth about $2,992,000. Neo Ivy Capital Management boosted its stake in shares of Polaris by 525.5% during the 4th quarter. Neo Ivy Capital Management now owns 38,766 shares of the company’s stock worth $2,233,000 after purchasing an additional 32,568 shares during the period. Focus Partners Advisor Solutions LLC grew its holdings in Polaris by 125.4% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 6,090 shares of the company’s stock valued at $351,000 after purchasing an additional 3,388 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Polaris by 18.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,705 shares of the company’s stock valued at $8,280,000 after purchasing an additional 22,643 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.