Polaris Inc. (NYSE:PII – Get Free Report)’s share price reached a new 52-week low on Tuesday after Truist Financial lowered their price target on the stock from $92.00 to $82.00. Truist Financial currently has a hold rating on the stock. Polaris traded as low as $73.29 and last traded at $73.50, with a volume of 150537 shares changing hands. The stock had previously closed at $74.93.
A number of other equities analysts have also commented on PII. Citigroup cut their price objective on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Monday, April 8th. StockNews.com downgraded Polaris from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reduced their target price on Polaris from $103.00 to $97.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 24th. Finally, DA Davidson lowered their price target on Polaris from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Nine 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 stock presently has a consensus rating of “Hold” and an average price target of $98.45.
Institutional Investors Weigh In On Polaris
A number of institutional investors have recently made changes to their positions in PII. Chase Investment Counsel Corp purchased a new position in Polaris in the 4th quarter worth approximately $852,000. Semanteon Capital Management LP bought a new position in shares of Polaris in the fourth quarter worth approximately $1,270,000. TD Asset Management Inc increased its stake in shares of Polaris by 8.3% in the fourth quarter. TD Asset Management Inc now owns 140,779 shares of the company’s stock worth $13,342,000 after buying an additional 10,770 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Polaris by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company’s stock valued at $33,957,000 after buying an additional 10,745 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Polaris by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after buying an additional 48,179 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.
Polaris Stock Performance
The business’s fifty day simple moving average is $80.77 and its 200-day simple moving average is $88.01. The firm has a market cap of $4.15 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 2.56 and a beta of 1.53. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46.
Polaris (NYSE:PII – Get Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Polaris’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, sell-side analysts expect that Polaris Inc. will post 7.73 earnings per share for the current year.
Polaris Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.59%. Polaris’s dividend payout ratio is presently 38.71%.
Polaris Company Profile
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.