Polaris (NYSE:PII) Price Target Lowered to $48.00 at UBS Group

Polaris (NYSE:PII) had its target price reduced by UBS Group from $67.00 to $48.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on PII. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. Citigroup decreased their price objective on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial cut their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $66.17.

Polaris Stock Down 8.7 %

PII stock opened at $43.56 on Monday. The company’s 50 day simple moving average is $58.48 and its 200-day simple moving average is $71.43. The firm has a market capitalization of $2.43 billion, a PE ratio of 22.23, a P/E/G ratio of 14.51 and a beta of 1.50. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. Polaris has a 12 month low of $43.20 and a 12 month high of $100.91.

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

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.67 dividend. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is currently 134.69%.

Institutional Investors Weigh In On Polaris

A number of institutional investors have recently added to or reduced their stakes in PII. The Manufacturers Life Insurance Company raised its stake in shares of Polaris by 3.2% in the third quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock valued at $188,371,000 after purchasing an additional 69,844 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of Polaris by 0.7% in the 3rd quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock valued at $86,516,000 after buying an additional 6,724 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Polaris by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock worth $46,232,000 after acquiring an additional 171,366 shares during the period. Eubel Brady & Suttman Asset Management Inc. boosted its position in shares of Polaris by 34.8% during the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 265,517 shares of the company’s stock valued at $15,299,000 after acquiring an additional 68,537 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in Polaris by 9.9% in the third quarter. Systematic Financial Management LP now owns 229,565 shares of the company’s stock valued at $19,109,000 after acquiring an additional 20,695 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

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.