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

StockNews.com upgraded shares of Polaris (NYSE:PII) from a sell rating to a hold rating in a research report report published on Thursday morning.

A number of other research analysts have also commented on PII. Robert W. Baird reduced their price target on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. DA Davidson decreased their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Finally, KeyCorp cut their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average price target of $87.09.

Polaris Price Performance

Polaris stock opened at $69.00 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The business’s 50 day simple moving average is $74.66 and its 200 day simple moving average is $78.57. Polaris has a 12 month low of $64.56 and a 12 month high of $100.91. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 7.21 and a beta of 1.52.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion during 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%. The firm’s quarterly revenue was down 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 earnings per share. Sell-side analysts forecast that Polaris will post 3.22 EPS for the current year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 3.83%. Polaris’s payout ratio is 73.74%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC raised its position in shares of Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after buying an additional 389 shares in the last quarter. Quarry LP grew its holdings in shares of Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the last quarter. Signaturefd LLC increased its position in shares of Polaris by 1,931.3% during the second quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after acquiring an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in Polaris in the 2nd quarter worth approximately $57,000. 88.06% of the stock is currently owned by 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.