Polaris (NYSE:PII) Shares Down 3.1% Following Analyst Downgrade

Polaris Inc. (NYSE:PII) fell 3.1% on Monday after Truist Financial lowered their price target on the stock from $55.00 to $30.00. Truist Financial currently has a hold rating on the stock. Polaris traded as low as $33.01 and last traded at $33.17. 165,902 shares changed hands during trading, a decline of 84% from the average session volume of 1,057,412 shares. The stock had previously closed at $34.24.

Several other analysts have also weighed in on PII. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Bank of America lowered their target price on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 price target on shares of Polaris in a research note on Monday, March 17th. Citigroup downgraded shares of Polaris from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $49.00 to $33.00 in a research note on Thursday, March 20th. Finally, Morgan Stanley restated an “equal weight” rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.64.

Hedge Funds Weigh In On Polaris

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP lifted its stake in Polaris by 74.0% in the fourth quarter. Quantbot Technologies LP now owns 35,944 shares of the company’s stock worth $2,071,000 after acquiring an additional 15,283 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Polaris by 14.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company’s stock valued at $6,701,000 after purchasing an additional 14,790 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Polaris in the 4th quarter worth approximately $21,776,000. State of Alaska Department of Revenue boosted its stake in shares of Polaris by 371.7% during the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock valued at $1,669,000 after purchasing an additional 22,835 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Polaris during the fourth quarter valued at approximately $611,000. Institutional investors own 88.06% of the company’s stock.

Polaris Trading Down 0.6 %

The company has a market capitalization of $1.91 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The company’s fifty day moving average is $42.12 and its 200-day moving average is $57.07.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. On average, analysts anticipate that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 7.87%. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is 136.73%.

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.