Polaris (NYSE:PII) Upgraded to “Hold” by StockNews.com

Polaris (NYSE:PII) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other research analysts also recently commented on the stock. BMO Capital Markets decreased their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 24th. DA Davidson raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Thursday, July 25th. Truist Financial cut their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Longbow Research reiterated a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Finally, Citigroup cut their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.18.

Polaris Price Performance

Shares of PII stock traded up $1.10 during trading hours on Tuesday, hitting $84.62. 548,548 shares of the company’s stock were exchanged, compared to its average volume of 743,038. 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 12-month low of $71.90 and a 12-month high of $108.02. The business’s 50 day simple moving average is $81.32 and its 200-day simple moving average is $84.37. The company has a market capitalization of $4.78 billion, a PE ratio of 12.41, a PEG ratio of 6.92 and a beta of 1.51.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Polaris will post 3.79 earnings per share for the current year.

Hedge Funds Weigh In On Polaris

A number of hedge funds have recently bought and sold shares of the company. New England Capital Financial Advisors LLC purchased a new stake in Polaris during the 1st quarter valued at about $25,000. Creekmur Asset Management LLC purchased a new stake in Polaris during the 4th quarter valued at about $27,000. Bessemer Group Inc. grew its position in Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after purchasing an additional 235 shares during the last quarter. Security National Bank purchased a new stake in Polaris during the 4th quarter valued at about $47,000. Finally, Signaturefd LLC grew its position in Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after purchasing an additional 618 shares during the last quarter. 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.