Polaris (NYSE:PII) PT Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its price target dropped by research analysts at Truist Financial from $96.00 to $92.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 10.36% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Bank of America began coverage on shares of Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Polaris from $100.00 to $103.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp lowered their target price on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, January 12th. DA Davidson restated a “neutral” rating and issued a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Finally, BMO Capital Markets lowered their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.27.

Polaris Stock Performance

Shares of PII opened at $83.36 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The stock has a market cap of $4.71 billion, a P/E ratio of 12.14, a PEG ratio of 2.35 and a beta of 1.60. The company has a 50-day moving average of $92.75 and a two-hundred day moving average of $91.57. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49.

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

Institutional Investors Weigh In On Polaris

Several institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its stake in Polaris by 2.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,172 shares of the company’s stock worth $1,419,000 after buying an additional 381 shares during the period. Zhang Financial LLC acquired a new position in shares of Polaris during the first quarter worth $200,000. Verity & Verity LLC acquired a new position in shares of Polaris during the first quarter worth $37,000. Louisiana State Employees Retirement System lifted its position in shares of Polaris by 2.7% during the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock worth $1,532,000 after purchasing an additional 400 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Polaris by 7.4% during the first quarter. Amalgamated Bank now owns 36,431 shares of the company’s stock worth $3,647,000 after purchasing an additional 2,505 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other 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.