Polaris (NYSE:PII) Hits New 52-Week Low – Here’s What Happened

Polaris Inc. (NYSE:PII)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $39.29 and last traded at $42.66, with a volume of 230994 shares. The stock had previously closed at $42.56.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial reduced their target price on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. BMO Capital Markets decreased their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. DA Davidson dropped their target price on shares of Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 30th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Roth Mkm lowered their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.83.

Polaris Trading Down 0.8 %

The company has a market cap of $2.37 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The company’s 50 day simple moving average is $47.77 and its two-hundred day simple moving average is $63.22. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, sell-side analysts anticipate that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.67 dividend. This is a positive change from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 annualized dividend and a dividend yield of 6.35%. Polaris’s dividend payout ratio (DPR) is presently 136.73%.

Institutional Investors Weigh In On Polaris

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI grew its stake in shares of Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after acquiring an additional 183 shares in the last quarter. Nordea Investment Management AB increased its holdings in Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after purchasing an additional 183 shares during the period. TD Waterhouse Canada Inc. raised its position in Polaris by 1.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 22,484 shares of the company’s stock valued at $1,295,000 after purchasing an additional 241 shares in the last quarter. Quarry LP boosted its stake in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Polaris by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after buying an additional 263 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.