Polaris (NYSE:PII) Given New $69.00 Price Target at DA Davidson

Polaris (NYSE:PII) had its price target reduced by DA Davidson from $84.00 to $69.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Robert W. Baird cut their price target on Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial lowered their target price on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Polaris currently has an average rating of “Hold” and an average target price of $79.60.

Polaris Stock Performance

NYSE PII opened at $55.47 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The company has a market capitalization of $3.09 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 4.84 and a beta of 1.53. Polaris has a 52-week low of $52.77 and a 52-week high of $100.91. The company has a 50-day simple moving average of $61.91 and a 200 day simple moving average of $73.58.

Polaris (NYSE:PII) last posted its quarterly 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm posted $2.71 EPS. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. On average, research analysts predict that Polaris will post 3.22 EPS for the current year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.66 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a yield of 4.76%. Polaris’s dividend payout ratio is currently 73.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. RWWM Inc. raised its stake in Polaris by 192.3% in the second quarter. RWWM Inc. now owns 272,452 shares of the company’s stock valued at $21,334,000 after purchasing an additional 179,244 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Polaris by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after buying an additional 171,366 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Polaris during the 3rd quarter worth $12,670,000. Weiss Asset Management LP purchased a new position in Polaris in the third quarter worth $10,844,000. Finally, Dimensional Fund Advisors LP increased its stake in Polaris by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock valued at $76,994,000 after acquiring an additional 96,194 shares during the last quarter. Hedge funds and other 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.