Morgan Stanley Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its target price decreased by Morgan Stanley from $31.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 16.69% from the company’s previous close.

Several other brokerages also recently commented on PII. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a report on Wednesday. Roth Capital reiterated a “neutral” rating on shares of Polaris in a report on Tuesday, April 22nd. Robert W. Baird reduced their target price on Polaris from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Truist Financial dropped their price target on Polaris from $55.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Polaris currently has an average rating of “Hold” and an average target price of $45.36.

Polaris Trading Up 0.3 %

NYSE PII opened at $34.81 on Thursday. The firm has a market cap of $1.95 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. Polaris has a 1-year low of $30.92 and a 1-year high of $90.62. The stock has a 50-day moving average of $38.88 and a 200-day moving average of $52.82. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.01. Polaris had a return on equity of 13.78% and a net margin of 1.54%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that Polaris will post 1.11 EPS for the current year.

Hedge Funds Weigh In On Polaris

Several large investors have recently made changes to their positions in PII. Capital World Investors increased its position in Polaris by 6.7% during the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock valued at $354,725,000 after buying an additional 388,050 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Polaris by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,642,463 shares of the company’s stock valued at $325,119,000 after acquiring an additional 39,858 shares in the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Polaris by 2.6% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,775,331 shares of the company’s stock worth $159,914,000 after purchasing an additional 69,766 shares during the last quarter. RWWM Inc. boosted its stake in Polaris by 169.2% in the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company’s stock worth $98,053,000 after purchasing an additional 1,505,351 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Polaris by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,284,077 shares of the company’s stock valued at $131,609,000 after purchasing an additional 21,087 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.