Truist Financial Cuts Polaris (NYSE:PII) Price Target to $60.00

Polaris (NYSE:PII) had its price objective lowered by research analysts at Truist Financial from $76.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 4.18% from the company’s previous close.

A number of other equities analysts have also commented on the company. Royal Bank of Canada cut their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised shares of Polaris from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Robert W. Baird decreased their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. DA Davidson cut their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, KeyCorp dropped their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.00.

Polaris Price Performance

Shares of Polaris stock traded down $0.77 during midday trading on Tuesday, hitting $57.59. 136,994 shares of the company traded hands, compared to its average volume of 552,837. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. Polaris has a 12 month low of $55.55 and a 12 month high of $100.91. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 6.59 and a beta of 1.53. The firm’s fifty day moving average price is $64.61 and its 200-day moving average price is $74.92.

Polaris (NYSE:PII) last announced 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business’s revenue was down 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.71 earnings per share. As a group, sell-side analysts forecast that Polaris will post 3.22 earnings per share for the current year.

Institutional Trading of Polaris

Several institutional investors have recently modified their holdings of PII. Commonwealth Equity Services LLC boosted its stake in shares of Polaris by 23.5% in the second quarter. Commonwealth Equity Services LLC now owns 27,957 shares of the company’s stock valued at $2,189,000 after buying an additional 5,320 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Polaris by 27.9% during the 2nd quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 200 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Polaris by 44.2% in the second quarter. Victory Capital Management Inc. now owns 16,387 shares of the company’s stock valued at $1,283,000 after acquiring an additional 5,021 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Polaris by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 15,021 shares of the company’s stock valued at $1,176,000 after buying an additional 277 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Polaris in the second quarter valued at $90,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.