Raymond James & Associates Sells 15,709 Shares of Polaris Inc. (NYSE:PII)

Raymond James & Associates reduced its position in Polaris Inc. (NYSE:PII) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 389,868 shares of the company’s stock after selling 15,709 shares during the period. Raymond James & Associates owned about 0.70% of Polaris worth $32,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New England Capital Financial Advisors LLC purchased a new position in shares of Polaris in the first quarter worth $25,000. Bessemer Group Inc. raised its position in Polaris by 174.1% in the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 shares during the last quarter. Blue Trust Inc. lifted its stake in 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 period. Signaturefd LLC boosted its holdings in shares of Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after acquiring an additional 618 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Polaris in the second quarter worth approximately $57,000. 88.06% of the stock is owned by institutional investors.

Polaris Price Performance

Shares of NYSE:PII opened at $69.68 on Thursday. The company has a market capitalization 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. Polaris Inc. has a 1-year low of $69.36 and a 1-year high of $100.91. The firm’s 50 day simple moving average is $82.04 and its two-hundred day simple moving average is $82.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the company posted $2.71 EPS. The company’s quarterly revenue was down 23.4% on a year-over-year basis. Research analysts expect that Polaris Inc. will post 3.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PII shares. Royal Bank of Canada dropped their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday. KeyCorp dropped their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday. BMO Capital Markets reduced their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 24th. Bank of America dropped their target price on Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $87.36.

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.