Royal Bank of Canada Cuts Polaris (NYSE:PII) Price Target to $97.00

Polaris (NYSE:PII) had its target price trimmed by Royal Bank of Canada from $103.00 to $97.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other research firms have also recently commented on PII. Truist Financial decreased their price target on Polaris from $96.00 to $92.00 and set a hold rating for the company in a research note on Wednesday. DA Davidson reiterated a neutral rating and issued a $80.00 price target on shares of Polaris in a research note on Tuesday, March 5th. Morgan Stanley raised Polaris from an equal weight rating to an overweight rating and increased their price objective for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. KeyCorp cut their price objective on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a report on Friday, January 12th. Finally, Robert W. Baird cut their price objective on Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Polaris presently has an average rating of Hold and an average target price of $100.27.

Polaris Trading Up 0.6 %

Polaris stock opened at $83.79 on Wednesday. The stock has a 50-day moving average of $92.56 and a two-hundred day moving average of $91.51. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. Polaris has a one year low of $82.00 and a one year high of $138.49. The stock has a market cap of $4.73 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business posted $2.05 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. On average, research analysts anticipate that Polaris will post 7.93 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.15%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, February 29th. Polaris’s dividend payout ratio (DPR) is 38.71%.

Institutional Trading of Polaris

Several hedge funds and other institutional investors have recently bought and sold shares of PII. Creekmur Asset Management LLC acquired a new stake in Polaris during the fourth quarter worth about $27,000. BKM Wealth Management LLC acquired a new stake in Polaris during the fourth quarter worth about $31,000. Verity & Verity LLC acquired a new stake in Polaris during the first quarter worth about $37,000. First United Bank & Trust acquired a new stake in Polaris during the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC grew its holdings in Polaris by 536.5% during the third quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock worth $42,000 after acquiring an additional 338 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

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.