Citigroup Lowers Polaris (NYSE:PII) Price Target to $96.00

Polaris (NYSE:PII) had its price target decreased by Citigroup from $100.00 to $96.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. BMO Capital Markets reduced their price target on shares of Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research report on Wednesday, January 31st. Truist Financial reduced their price target on shares of Polaris from $96.00 to $92.00 and set a hold rating on the stock in a research report on Wednesday. Bank of America assumed coverage on shares of Polaris in a research report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Polaris from $103.00 to $97.00 and set a sector perform rating on the stock in a research report on Wednesday. Finally, Robert W. Baird reduced their price target on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Polaris currently has an average rating of Hold and a consensus price target of $100.27.

Polaris Price Performance

Shares of Polaris stock opened at $85.21 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. The firm’s 50-day simple moving average is $92.86 and its 200-day simple moving average is $91.61. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The firm has a market cap of $4.81 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.60.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business earned $2.05 EPS. The firm’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts expect that Polaris will post 7.97 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.10%. This is an increase from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s payout ratio is 38.71%.

Institutional Investors Weigh In On Polaris

A number of institutional investors and hedge funds have recently modified their holdings of PII. International Assets Investment Management LLC grew its holdings in Polaris by 10,524.7% during the fourth quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock valued at $5,820,000 after purchasing an additional 60,833 shares during the period. Camarda Financial Advisors LLC acquired a new position in shares of Polaris in the third quarter valued at approximately $1,354,000. Quantbot Technologies LP acquired a new position in shares of Polaris in the third quarter valued at approximately $1,227,000. Envestnet Asset Management Inc. boosted its holdings in shares of Polaris by 35.6% in the third quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company’s stock valued at $11,938,000 after buying an additional 30,114 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in shares of Polaris by 61.2% in the third quarter. Gotham Asset Management LLC now owns 75,625 shares of the company’s stock valued at $7,876,000 after buying an additional 28,700 shares during the period. 88.06% of the stock is owned by institutional investors.

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.