Citigroup Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price target cut by stock analysts at Citigroup from $73.00 to $57.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 5.94% from the stock’s current price.

Several other analysts have also commented on the company. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. DA Davidson decreased their price objective on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a report on Friday, January 17th. Truist Financial decreased their price objective on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird reduced their target price on Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.45.

Polaris Stock Down 0.8 %

Shares of NYSE PII opened at $53.80 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $3.00 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 6.05 and a beta of 1.53. The stock’s fifty day simple moving average is $60.62 and its two-hundred day simple moving average is $72.86. Polaris has a 12-month low of $52.62 and a 12-month high of $100.91.

Polaris (NYSE:PII) last issued 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). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company posted $2.71 EPS. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. As a group, analysts expect that Polaris will post 3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Polaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PII. Envestnet Asset Management Inc. grew its position in Polaris by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 91,612 shares of the company’s stock worth $7,174,000 after purchasing an additional 831 shares during the period. Dimensional Fund Advisors LP grew its position in Polaris by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after purchasing an additional 96,194 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Polaris by 67.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,657 shares of the company’s stock worth $365,000 after purchasing an additional 1,881 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Polaris during the 2nd quarter valued at about $1,211,000. Finally, Sei Investments Co. grew its position in shares of Polaris by 31.0% during the 2nd quarter. Sei Investments Co. now owns 3,601 shares of the company’s stock valued at $282,000 after acquiring an additional 853 shares during the period. 88.06% of the stock is 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.