Polaris (NYSE:PII) Reaches New 1-Year Low – Here’s Why

Polaris Inc. (NYSE:PII)’s stock price hit a new 52-week low on Friday . The stock traded as low as $62.74 and last traded at $62.74, with a volume of 88787 shares changing hands. The stock had previously closed at $64.65.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. DA Davidson cut their price objective on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Robert W. Baird cut their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, KeyCorp cut their price objective on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $87.09.

Polaris Price Performance

The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The business’s fifty day moving average is $71.08 and its 200 day moving average is $77.33. The firm has a market capitalization of $3.52 billion, a P/E ratio of 17.63, a P/E/G ratio of 6.81 and a beta of 1.51.

Polaris (NYSE:PII) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was down 23.4% compared to the same quarter last year. As a group, analysts forecast that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.18%. Polaris’s payout ratio is currently 73.74%.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Polaris by 311.6% in the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after acquiring an additional 292,992 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new position in shares of Polaris in the second quarter worth approximately $15,363,000. RWWM Inc. increased its position in shares of Polaris by 192.3% in the second quarter. RWWM Inc. now owns 272,452 shares of the company’s stock worth $21,334,000 after acquiring an additional 179,244 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Polaris by 44.6% in the third 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 in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Polaris in the third quarter worth approximately $12,670,000. 88.06% of the stock is currently owned by 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.