Polaris (NYSE:PII) Downgraded by StockNews.com

StockNews.com cut shares of Polaris (NYSE:PII) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Other research analysts also recently issued reports about the stock. Truist Financial lowered their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. BMO Capital Markets lowered their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 24th. KeyCorp decreased their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Thursday, July 25th. Finally, Royal Bank of Canada reduced their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Polaris has an average rating of “Hold” and an average target price of $87.09.

Polaris Price Performance

Shares of PII stock opened at $71.25 on Wednesday. The business has a fifty day simple moving average of $81.58 and a 200 day simple moving average of $81.67. The company has a market cap of $3.97 billion, a P/E ratio of 19.90, a P/E/G ratio of 7.48 and a beta of 1.51. The company has a quick ratio of 0.40, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris has a twelve month low of $68.59 and a twelve month high of $100.91.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm’s revenue was down 23.4% compared to the same quarter last year. During the same period last year, the company posted $2.71 EPS. On average, sell-side analysts forecast that Polaris will post 3.25 EPS for the current fiscal year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 3.71%. Polaris’s payout ratio is currently 73.74%.

Institutional Trading of Polaris

Several hedge funds have recently bought and sold shares of PII. New England Capital Financial Advisors LLC bought a new stake in shares of Polaris during the first quarter worth about $25,000. Blue Trust Inc. lifted its holdings in shares of Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after buying an additional 235 shares during the last quarter. Signaturefd LLC lifted its stake in Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after acquiring an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Polaris in the 2nd quarter worth $57,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.