Robert W. Baird Downgrades Polaris (NYSE:PII) to Neutral

Robert W. Baird downgraded shares of Polaris (NYSE:PII) from an outperform rating to a neutral rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has $40.00 price target on the stock, down from their previous price target of $56.00.

PII has been the topic of several other reports. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $54.00 price objective on shares of Polaris in a research note on Monday, March 17th. Citigroup cut shares of Polaris from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $49.00 to $33.00 in a research note on Thursday, March 20th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, Truist Financial reduced their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average price target of $58.50.

Polaris Price Performance

NYSE PII opened at $36.67 on Friday. The company has a 50-day moving average price of $44.41 and a 200-day moving average price of $60.04. Polaris has a 52 week low of $33.61 and a 52 week high of $100.00. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.06 billion, a P/E ratio of 18.71, a PEG ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 EPS 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%. Equities research analysts anticipate that Polaris will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 7.31%. Polaris’s dividend payout ratio is presently 136.73%.

Institutional Trading of Polaris

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of Polaris by 386.5% in the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. Twin Tree Management LP bought a new position in Polaris during the fourth quarter valued at $29,000. Lindbrook Capital LLC grew its stake in shares of Polaris by 295.4% in the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after buying an additional 387 shares in the last quarter. Quarry LP increased its holdings in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after buying an additional 253 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Polaris by 191.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company’s stock valued at $50,000 after buying an additional 797 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.