Polaris (NYSE:PII) Reaches New 52-Week Low – Here’s Why

Polaris Inc. (NYSE:PII)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $62.74 and last traded at $62.74, with a volume of 88787 shares. The stock had previously closed at $64.65.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 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 research note on Wednesday, October 23rd. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird cut their price target on Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. DA Davidson dropped their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, KeyCorp cut their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.09.

Polaris Stock Performance

The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 6.81 and a beta of 1.51. The company’s 50 day simple moving average is $71.47 and its 200 day simple moving average is $77.50. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s revenue was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 EPS. On average, equities research analysts anticipate that Polaris Inc. will post 3.22 earnings per share for the current year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 4.23%. Polaris’s dividend payout ratio is currently 73.74%.

Hedge Funds Weigh In On Polaris

Large investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its stake in Polaris by 19.9% during the third 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. Dorsey & Whitney Trust CO LLC boosted its stake 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 worth $1,262,000 after acquiring an additional 187 shares in the last quarter. Isthmus Partners LLC grew its holdings in shares of Polaris by 5.0% in the 2nd quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock worth $314,000 after acquiring an additional 190 shares during the last quarter. Quarry LP raised its position in shares of Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the period. Finally, Claro Advisors LLC lifted its holdings in shares of Polaris by 3.3% during the third quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock valued at $656,000 after purchasing an additional 254 shares during 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.