Polaris (NYSE:PII) PT Lowered to $90.00

Polaris (NYSE:PII) had its price objective reduced by KeyCorp from $105.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on PII. BMO Capital Markets decreased their target price on shares of Polaris from $90.00 to $75.00 and set a market perform rating for the company in a report on Wednesday. Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a report on Wednesday, April 24th. Truist Financial decreased their price objective on shares of Polaris from $92.00 to $82.00 and set a hold rating for the company in a report on Monday, July 8th. Finally, DA Davidson decreased their price objective on shares of Polaris from $80.00 to $75.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $89.18.

Polaris Stock Up 4.7 %

Shares of Polaris stock opened at $82.71 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.42 and a current ratio of 1.42. The stock has a market capitalization of $4.67 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 7.00 and a beta of 1.53. Polaris has a 52-week low of $71.90 and a 52-week high of $138.49. The company has a 50-day simple moving average of $79.33 and a two-hundred day simple moving average of $86.79.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm posted $2.42 earnings per share. On average, analysts anticipate that Polaris will post 3.8 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.19%. Polaris’s dividend payout ratio is 38.71%.

Hedge Funds Weigh In On Polaris

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Polaris in the 4th quarter worth $209,000. Mutual Advisors LLC purchased a new position in shares of Polaris in the 4th quarter worth $207,000. CoreCap Advisors LLC purchased a new position in shares of Polaris in the 4th quarter worth $239,000. Ritholtz Wealth Management grew its stake in shares of Polaris by 8.9% in the 4th quarter. Ritholtz Wealth Management now owns 2,359 shares of the company’s stock worth $224,000 after buying an additional 192 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Polaris by 1,286.0% in the 4th quarter. Blue Trust Inc. now owns 693 shares of the company’s stock worth $72,000 after buying an additional 643 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.