DA Davidson Cuts Polaris (NYSE:PII) Price Target to $60.00

Polaris (NYSE:PII) had its target price dropped by equities researchers at DA Davidson from $69.00 to $60.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s target price points to a potential upside of 19.51% from the stock’s current price.

PII has been the topic of a number of other reports. BMO Capital Markets dropped their price objective on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday. Citigroup decreased their target price on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Robert W. Baird decreased their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Finally, Truist Financial decreased their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday. One 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.82.

Polaris Stock Up 2.9 %

NYSE PII traded up $1.43 on Thursday, hitting $50.21. The stock had a trading volume of 530,867 shares, compared to its average volume of 1,497,322. The business’s fifty day moving average price is $59.80 and its 200 day moving average price is $72.30. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. Polaris has a 52-week low of $48.44 and a 52-week high of $100.91. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 6.05 and a beta of 1.53.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Equities research analysts anticipate that Polaris will post 3.22 earnings per share for the current year.

Institutional Trading of Polaris

A number of institutional investors and hedge funds have recently modified their holdings of PII. Kiltearn Partners LLP grew its stake in Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after acquiring an additional 92,300 shares in the last quarter. FMR LLC grew its stake in Polaris by 22.0% during the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after acquiring an additional 24,103 shares in the last quarter. Quantinno Capital Management LP grew its stake in Polaris by 545.1% during the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock valued at $2,231,000 after acquiring an additional 22,648 shares in the last quarter. Victory Capital Management Inc. grew its stake in Polaris by 167.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after acquiring an additional 27,375 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Polaris by 8,867.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock valued at $5,322,000 after acquiring an additional 63,225 shares in the last quarter. Hedge funds and other 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.