Polaris (NYSE:PII) Price Target Lowered to $80.00 at KeyCorp

Polaris (NYSE:PII) had its target price reduced by KeyCorp from $90.00 to $80.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada cut their target price on Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 24th. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Bank of America decreased their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets cut their price target on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Finally, Citigroup decreased their price objective on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.36.

Polaris Price Performance

Shares of NYSE PII opened at $69.68 on Wednesday. The firm has a 50-day moving average of $82.04 and a two-hundred day moving average of $82.04. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 7.59 and a beta of 1.51. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56. Polaris has a twelve month low of $69.36 and a twelve month high of $100.91.

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

Institutional Trading of Polaris

Several hedge funds and other institutional investors have recently modified their holdings of PII. Vanguard Group Inc. increased its position in Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after purchasing an additional 94,680 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Polaris by 22.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock worth $6,616,000 after buying an additional 11,009 shares during the last quarter. Tidal Investments LLC bought a new position in Polaris during the first quarter valued at approximately $1,065,000. Allspring Global Investments Holdings LLC raised its position in Polaris by 14.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after acquiring an additional 169 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Polaris by 1,619.1% in the first quarter. SG Americas Securities LLC now owns 37,975 shares of the company’s stock valued at $3,802,000 after acquiring an additional 35,766 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.