Polaris (NYSE:PII) Stock Rating Lowered by StockNews.com

Polaris (NYSE:PII) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other analysts also recently weighed in on PII. Royal Bank of Canada cut their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. DA Davidson cut their price objective on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Truist Financial lowered their price objective on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $84.00.

Polaris Stock Down 4.4 %

Shares of NYSE:PII traded down $2.57 during midday trading on Wednesday, reaching $55.54. The company had a trading volume of 1,224,459 shares, compared to its average volume of 824,692. Polaris has a 1-year low of $55.19 and a 1-year high of $100.91. The stock has a market cap of $3.10 billion, a PE ratio of 15.51, a P/E/G ratio of 6.59 and a beta of 1.53. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average price is $63.96 and its 200 day moving average price is $74.64.

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

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PII. Kiltearn Partners LLP boosted its holdings in Polaris by 147.9% in the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after buying an additional 92,300 shares during the period. FMR LLC grew its position in shares of Polaris by 22.0% in the third quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after purchasing an additional 24,103 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Polaris by 545.1% during the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock valued at $2,231,000 after purchasing an additional 22,648 shares during the period. Victory Capital Management Inc. lifted its holdings in Polaris by 167.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after purchasing an additional 27,375 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in Polaris by 8,867.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after purchasing an additional 63,225 shares during the period. Institutional investors own 88.06% of the company’s stock.

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.