Citigroup Cuts Polaris (NYSE:PII) Price Target to $53.00

Polaris (NYSE:PII) had its price target decreased by Citigroup from $57.00 to $53.00 in a research report sent to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages have also commented on PII. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Roth Mkm lowered their target price on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Truist Financial reduced their price target on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, January 7th. DA Davidson reduced their target price on shares of Polaris from $84.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Robert W. Baird lowered their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.82.

Polaris Price Performance

NYSE PII opened at $47.68 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.32. Polaris has a 1-year low of $47.53 and a 1-year high of $100.91. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 14.41 and a beta of 1.53. The business’s fifty day moving average price is $59.03 and its 200-day moving average price is $71.91.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. On average, equities analysts predict that Polaris will post 1.14 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.62%. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Monday, March 3rd. Polaris’s dividend payout ratio is presently 134.69%.

Institutional Investors Weigh In On Polaris

Several large investors have recently modified their holdings of the business. Kiltearn Partners LLP boosted its stake in shares of Polaris by 147.9% during the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after purchasing an additional 92,300 shares in the last quarter. FMR LLC boosted its position in Polaris by 22.0% during the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after acquiring an additional 24,103 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Polaris by 545.1% in the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock valued at $2,231,000 after acquiring an additional 22,648 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Polaris by 167.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after acquiring an additional 27,375 shares during the period. Finally, Benjamin Edwards Inc. raised its position in shares of 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 acquiring an additional 63,225 shares in 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.