Polaris Inc. (NYSE:PII) Short Interest Up 21.8% in January

Polaris Inc. (NYSE:PII) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 6,380,000 shares, a growth of 21.8% from the January 15th total of 5,240,000 shares. Approximately 12.4% of the shares of the company are sold short. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 4.9 days.

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently modified their holdings of PII. Venturi Wealth Management LLC increased its holdings in shares of Polaris by 534.5% during the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after acquiring an additional 294 shares in the last quarter. Larson Financial Group LLC boosted its stake in Polaris by 386.5% during the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 402 shares during the last quarter. Twin Tree Management LP purchased a new stake in Polaris in the 4th quarter valued at $29,000. Lindbrook Capital LLC boosted its holdings in Polaris by 295.4% during the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after purchasing an additional 387 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

Polaris Trading Up 1.5 %

Shares of Polaris stock traded up $0.68 during midday trading on Monday, reaching $45.08. The company had a trading volume of 869,982 shares, compared to its average volume of 2,099,572. The stock has a fifty day moving average price of $54.52 and a 200 day moving average price of $69.15. Polaris has a fifty-two week low of $42.85 and a fifty-two week high of $100.91. The firm has a market cap of $2.51 billion, a PE ratio of 23.00, a P/E/G ratio of 13.80 and a beta of 1.50. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, equities analysts anticipate that Polaris will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued 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 yield of 5.94%. The ex-dividend date is Monday, March 3rd. Polaris’s payout ratio is presently 134.69%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PII. Truist Financial reduced their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Robert W. Baird decreased their price target on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. DA Davidson dropped their price objective on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, BMO Capital Markets dropped their target price on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Polaris presently has a consensus rating of “Hold” and a consensus price target of $66.17.

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.