Polaris (NYSE:PII) Given New $69.00 Price Target at DA Davidson

Polaris (NYSE:PII) had its target price reduced by DA Davidson from $84.00 to $69.00 in a report issued on Friday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. Truist Financial dropped their price objective on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada cut their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird lowered their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Finally, StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Polaris has a consensus rating of “Hold” and an average target price of $79.60.

Polaris Price Performance

PII stock opened at $55.47 on Friday. The firm has a market cap of $3.09 billion, a P/E ratio of 15.49, a P/E/G ratio of 4.84 and a beta of 1.53. The firm’s fifty day moving average is $61.91 and its 200 day moving average is $73.58. Polaris has a 52 week low of $52.77 and a 52 week high of $100.91. 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 released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm’s quarterly revenue was down 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 EPS. Research analysts predict that Polaris will post 3.22 earnings per share for the current year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.66 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a yield of 4.76%. Polaris’s dividend payout ratio (DPR) is 73.74%.

Institutional Trading of Polaris

A number of hedge funds and other institutional investors have recently modified their holdings of PII. RWWM Inc. boosted its stake in Polaris by 192.3% during the second quarter. RWWM Inc. now owns 272,452 shares of the company’s stock worth $21,334,000 after acquiring an additional 179,244 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Polaris by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after purchasing an additional 171,366 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Polaris during the third quarter valued at approximately $12,670,000. Weiss Asset Management LP bought a new stake in shares of Polaris in the 3rd quarter worth approximately $10,844,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Polaris by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after buying an additional 96,194 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.