Polaris (NYSE:PII) Price Target Cut to $73.00 by Analysts at Royal Bank of Canada

Polaris (NYSE:PII) had its price target decreased by Royal Bank of Canada from $82.00 to $73.00 in a report issued on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other brokerages have also issued reports on PII. Truist Financial decreased their price target on Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Longbow Research reissued a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. Citigroup dropped their price target on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Polaris from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, BMO Capital Markets dropped their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Polaris presently has a consensus rating of “Hold” and an average price target of $87.36.

Polaris Stock Performance

NYSE:PII opened at $69.68 on Wednesday. Polaris has a 1-year low of $69.36 and a 1-year high of $100.91. The firm has a 50 day simple moving average of $82.04 and a 200-day simple moving average of $82.04. The firm has a market cap of $3.94 billion, a PE ratio of 10.22, a P/E/G ratio of 7.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the firm posted $2.71 earnings per share. The company’s revenue was down 23.4% on a year-over-year basis. On average, equities analysts expect that Polaris will post 3.66 EPS for the current year.

Institutional Trading of Polaris

Large investors have recently added to or reduced their stakes in the stock. JLB & Associates Inc. boosted its position in shares of Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after buying an additional 120 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after acquiring an additional 169 shares during the period. Linden Thomas Advisory Services LLC grew its position in Polaris by 2.4% in the second quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock valued at $586,000 after acquiring an additional 172 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Polaris by 1.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after purchasing an additional 187 shares during the period. Finally, Isthmus Partners LLC lifted its position in shares of Polaris by 5.0% during the second quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock worth $314,000 after purchasing an additional 190 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.