Truist Financial Cuts Polaris (NYSE:PII) Price Target to $55.00

Polaris (NYSE:PII) had its price target reduced by Truist Financial from $60.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages also recently commented on PII. Roth Mkm decreased their target price on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Morgan Stanley restated an “equal weight” rating and issued a $60.00 price objective (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. Royal Bank of Canada cut their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, Citigroup lowered their price objective on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.82.

Polaris Trading Down 2.8 %

Shares of PII opened at $47.68 on Wednesday. The stock has a market capitalization of $2.66 billion, a P/E ratio of 24.33, a PEG ratio of 14.41 and a beta of 1.53. Polaris has a twelve month low of $47.53 and a twelve month high of $100.91. The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The firm has a fifty day simple moving average of $59.03 and a two-hundred day simple moving average of $71.91.

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

Polaris Increases Dividend

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

Institutional Investors Weigh In On Polaris

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in Polaris by 3.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after purchasing an additional 69,844 shares in the last quarter. Confluence Investment Management LLC raised its holdings in Polaris by 0.7% in the third quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after buying an additional 6,724 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Polaris by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock worth $46,232,000 after buying an additional 171,366 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Polaris by 9.9% during the third quarter. Systematic Financial Management LP now owns 229,565 shares of the company’s stock valued at $19,109,000 after buying an additional 20,695 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Polaris by 0.4% during the third quarter. Royal London Asset Management Ltd. now owns 221,481 shares of the company’s stock valued at $18,436,000 after acquiring an additional 818 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.