Morgan Stanley Reiterates “Equal Weight” Rating for Polaris (NYSE:PII)

Morgan Stanley reaffirmed their equal weight rating on shares of Polaris (NYSE:PII) in a report issued on Tuesday, MarketBeat Ratings reports. Morgan Stanley currently has a $60.00 price target on the stock, down from their prior price target of $81.00.

PII has been the subject of several other reports. DA Davidson reduced their price target on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, January 17th. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Truist Financial cut their price objective on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird lowered their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Polaris has an average rating of “Hold” and an average price target of $75.45.

Polaris Stock Up 0.9 %

NYSE:PII opened at $54.23 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The company’s fifty day moving average price is $60.88 and its 200-day moving average price is $73.01. Polaris has a 1-year low of $52.62 and a 1-year high of $100.91. The firm has a market capitalization of $3.02 billion, a P/E ratio of 15.15, a PEG ratio of 6.02 and a beta of 1.53.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 17.92% and a net margin of 2.64%. Polaris’s revenue for the quarter was down 23.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, equities research analysts anticipate that Polaris will post 3.22 EPS for the current year.

Institutional Investors Weigh In On Polaris

Several institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in shares of Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after acquiring an additional 294 shares during the last quarter. Blue Trust Inc. lifted its holdings in Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Quarry LP boosted its stake in Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Polaris by 232.6% during the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after buying an additional 677 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Polaris in the second quarter valued at about $57,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.