Polaris (NYSE:PII) Reaches New 12-Month Low After Analyst Downgrade

Polaris Inc. (NYSE:PII) hit a new 52-week low during mid-day trading on Wednesday after DA Davidson lowered their price target on the stock from $69.00 to $60.00. DA Davidson currently has a buy rating on the stock. Polaris traded as low as $51.17 and last traded at $51.26, with a volume of 3997969 shares. The stock had previously closed at $56.52.

A number of other research firms also recently commented on PII. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price objective (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. Truist Financial dropped their price target on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their target price on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.82.

Institutional Trading of Polaris

A number of large investors have recently made changes to their positions in the company. Venturi Wealth Management LLC grew its holdings in Polaris by 534.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after acquiring an additional 294 shares in the last quarter. Quarry LP increased its holdings in Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the last quarter. Blue Trust Inc. raised its stake in Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 389 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Polaris by 232.6% during the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after buying an additional 677 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Polaris by 19.9% during the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after acquiring an additional 183 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Trading Up 0.3 %

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 has a fifty day moving average price of $59.44 and a 200 day moving average price of $72.14. The firm has a market cap of $2.73 billion, a PE ratio of 13.67, a P/E/G ratio of 6.05 and a beta of 1.53.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Analysts forecast that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.48%. This is a boost from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio is currently 73.74%.

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.