Polaris Inc. (NYSE:PII) Receives $111.77 Consensus Price Target from Brokerages

Polaris Inc. (NYSE:PII) has earned an average recommendation of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $111.77.

PII has been the subject of several recent research reports. StockNews.com initiated coverage on Polaris in a report on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley decreased their price objective on Polaris from $120.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. Royal Bank of Canada decreased their price objective on Polaris from $121.00 to $108.00 and set a “sector perform” rating for the company in a report on Wednesday, October 25th. Truist Financial decreased their price objective on Polaris from $125.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, October 25th. Finally, Citigroup decreased their price objective on Polaris from $138.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th.

Polaris Trading Up 2.3 %

Shares of Polaris stock opened at $88.65 on Tuesday. Polaris has a 1 year low of $84.15 and a 1 year high of $138.49. The firm has a market cap of $5.01 billion, a PE ratio of 8.67 and a beta of 1.69. The stock has a fifty day moving average price of $101.08 and a 200-day moving average price of $111.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.25 and a quick ratio of 0.41.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, October 24th. The company reported $2.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.71. Polaris had a return on equity of 51.02% and a net margin of 6.57%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm posted $3.25 EPS. The business’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Polaris will post 9.78 EPS for the current year.

Polaris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, November 30th. Polaris’s payout ratio is presently 25.42%.

Insider Transactions at Polaris

In other news, CFO Robert Paul Mack sold 8,312 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $130.00, for a total transaction of $1,080,560.00. Following the completion of the transaction, the chief financial officer now owns 28,356 shares of the company’s stock, valued at $3,686,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PII. Vigilant Capital Management LLC purchased a new position in shares of Polaris during the first quarter worth about $28,000. Farther Finance Advisors LLC boosted its stake in Polaris by 71.2% in the second quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock worth $30,000 after buying an additional 104 shares in the last quarter. Money Concepts Capital Corp boosted its stake in Polaris by 89.1% in the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after buying an additional 147 shares in the last quarter. IFP Advisors Inc boosted its stake in Polaris by 30.4% in the second quarter. IFP Advisors Inc now owns 395 shares of the company’s stock worth $33,000 after buying an additional 92 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Polaris by 526.0% in the second quarter. Huntington National Bank now owns 313 shares of the company’s stock worth $38,000 after buying an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles worldwide. 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; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.