Polaris (NYSE:PII) Price Target Cut to $60.00 by Analysts at Truist Financial

Polaris (NYSE:PII) had its price objective dropped by equities researchers at Truist Financial from $76.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 8.03% from the stock’s current price.

A number of other equities analysts have also recently issued reports on PII. Royal Bank of Canada decreased their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. DA Davidson cut their price objective on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Polaris from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. KeyCorp cut their price target on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Robert W. Baird decreased their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.00.

Polaris Trading Down 4.4 %

Shares of PII stock opened at $55.54 on Tuesday. The stock has a 50-day simple moving average of $63.96 and a 200 day simple moving average of $74.64. The stock has a market capitalization of $3.10 billion, a P/E ratio of 15.51, a P/E/G ratio of 6.59 and a beta of 1.53. Polaris has a fifty-two week low of $55.19 and a fifty-two week high of $100.91. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $2.71 EPS. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. On average, sell-side analysts expect that Polaris will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in shares of Polaris by 23.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 27,957 shares of the company’s stock worth $2,189,000 after purchasing an additional 5,320 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Polaris by 27.9% during the second quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after purchasing an additional 200 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Polaris by 44.2% during the second quarter. Victory Capital Management Inc. now owns 16,387 shares of the company’s stock worth $1,283,000 after acquiring an additional 5,021 shares during the last quarter. Arizona State Retirement System lifted its position in Polaris by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 15,021 shares of the company’s stock valued at $1,176,000 after purchasing an additional 277 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Polaris in the second quarter valued at approximately $90,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.