Bank of America Trims Polaris (NYSE:PII) Target Price to $85.00

Polaris (NYSE:PII) had its target price dropped by equities research analysts at Bank of America from $86.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target would suggest a potential upside of 7.59% from the stock’s previous close.

A number of other brokerages also recently issued reports on PII. KeyCorp reduced their price target on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup reduced their target price on Polaris from $96.00 to $86.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Truist Financial dropped their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Royal Bank of Canada cut their price target on Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. Finally, DA Davidson lowered their target price on Polaris from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average price target of $89.18.

Polaris Stock Performance

NYSE PII opened at $79.00 on Wednesday. The business has a 50-day moving average price of $79.36 and a 200-day moving average price of $86.86. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 6.82 and a beta of 1.53. Polaris has a twelve month low of $71.90 and a twelve month high of $138.49. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. As a group, equities research analysts predict that Polaris will post 3.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PII. New England Capital Financial Advisors LLC purchased a new stake in shares of Polaris in the first quarter valued at $25,000. Creekmur Asset Management LLC purchased a new position in shares of Polaris during the 4th quarter worth about $27,000. Verity & Verity LLC bought a new position in Polaris during the 1st quarter valued at about $37,000. 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 purchasing an additional 235 shares during the period. Finally, First United Bank & Trust bought a new stake in Polaris in the fourth quarter worth about $40,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.