DA Davidson Trims Polaris (NYSE:PII) Target Price to $84.00

Polaris (NYSE:PII) had its price objective lowered by DA Davidson from $87.00 to $84.00 in a report released on Thursday morning, Benzinga reports. DA Davidson currently has a buy rating on the stock. DA Davidson also issued estimates for Polaris’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.50 EPS and FY2024 earnings at $3.15 EPS.

A number of other brokerages have also recently weighed in on PII. Roth Mkm reduced their target price on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada reduced their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday. KeyCorp reduced their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday. Longbow Research restated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. Finally, Bank of America reduced their price target on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $87.09.

Polaris Trading Up 0.7 %

Polaris stock opened at $71.25 on Thursday. The firm has a 50 day simple moving average of $81.58 and a 200-day simple moving average of $81.67. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.40. The stock has a market capitalization of $3.97 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 7.48 and a beta of 1.51. Polaris has a 12-month low of $68.59 and a 12-month high of $100.91.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company’s quarterly revenue was down 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 earnings per share. As a group, equities research analysts expect that Polaris will post 3.25 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.66 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.71%. Polaris’s dividend payout ratio is currently 73.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JLB & Associates Inc. raised its holdings in shares of Polaris by 0.5% during the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after purchasing an additional 120 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after purchasing an additional 169 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Polaris by 2.4% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock valued at $586,000 after purchasing an additional 172 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Polaris by 1.2% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after purchasing an additional 187 shares in the last quarter. Finally, Isthmus Partners LLC raised its holdings in shares of Polaris by 5.0% during the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after purchasing an additional 190 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.