Polaris (NYSE:PII) Price Target Cut to $80.00

Polaris (NYSE:PII) had its price objective cut by KeyCorp from $90.00 to $80.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on PII. DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Thursday, July 25th. Citigroup decreased their target price on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Bank of America dropped their price target on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. BMO Capital Markets reduced their price objective on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 24th. Finally, Roth Mkm dropped their target price on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Polaris currently has a consensus rating of “Hold” and a consensus price target of $87.09.

Polaris Stock Up 0.7 %

PII stock opened at $71.25 on Wednesday. The business’s 50-day moving average price is $81.58 and its 200-day moving average price is $81.67. The stock has a market cap of $3.97 billion, a P/E ratio of 19.90, a PEG ratio of 7.48 and a beta of 1.51. The company has a quick ratio of 0.40, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris has a twelve month low of $68.59 and a twelve month high of $100.91.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS. On average, equities research analysts forecast that Polaris will post 3.25 EPS for the current year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.71%. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

Institutional Trading of Polaris

Several hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC raised its position in Polaris by 18.7% during the first quarter. Park Avenue Securities LLC now owns 3,016 shares of the company’s stock valued at $302,000 after purchasing an additional 475 shares during the period. Calton & Associates Inc. raised its holdings in Polaris by 140.7% during the 1st quarter. Calton & Associates Inc. now owns 9,848 shares of the company’s stock valued at $986,000 after buying an additional 5,757 shares during the period. Diversified Trust Co raised its holdings in Polaris by 36.4% during the 1st quarter. Diversified Trust Co now owns 33,809 shares of the company’s stock valued at $3,385,000 after buying an additional 9,024 shares during the period. Claro Advisors LLC lifted its position in Polaris by 54.7% in the first quarter. Claro Advisors LLC now owns 7,609 shares of the company’s stock worth $762,000 after buying an additional 2,690 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Polaris by 14.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after buying an additional 169 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.