Polaris (NYSE:PII) Sets New 1-Year Low on Analyst Downgrade

Polaris Inc. (NYSE:PII)’s share price hit a new 52-week low during trading on Tuesday after UBS Group lowered their price target on the stock from $67.00 to $48.00. UBS Group currently has a neutral rating on the stock. Polaris traded as low as $43.20 and last traded at $43.56, with a volume of 6337073 shares trading hands. The stock had previously closed at $47.70.

Several other analysts have also recently weighed in on the company. Robert W. Baird cut their price objective on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, December 30th. BMO Capital Markets lowered their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Finally, Truist Financial lowered their price target on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.17.

Institutional Investors Weigh In On Polaris

Several institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI boosted its stake in Polaris by 19.9% during the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after purchasing an additional 183 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Polaris by 0.6% during the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after purchasing an additional 183 shares in the last quarter. Quarry LP boosted its position 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. Claro Advisors LLC increased its holdings in Polaris by 3.3% in the 3rd quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock worth $656,000 after buying an additional 254 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Polaris by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after buying an additional 263 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Stock Down 0.9 %

The company’s 50 day simple moving average is $57.59 and its 200-day simple moving average is $70.99. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.53 billion, a P/E ratio of 23.12, a PEG ratio of 14.51 and a beta of 1.50.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. Research analysts forecast that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.67 dividend. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is 136.73%.

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.