Polaris (NYSE:PII) Price Target Lowered to $60.00 at Truist Financial

Polaris (NYSE:PII) had its target price decreased by research analysts at Truist Financial from $76.00 to $60.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 4.18% from the stock’s previous close.

Several other analysts have also weighed in on the stock. DA Davidson decreased their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. KeyCorp cut their price objective on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Robert W. Baird lowered their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Polaris presently has an average rating of “Hold” and a consensus price target of $84.00.

Polaris Stock Performance

PII stock traded down $0.77 during trading on Tuesday, reaching $57.59. 136,994 shares of the stock were exchanged, compared to its average volume of 552,837. Polaris has a twelve month low of $55.55 and a twelve month high of $100.91. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $3.21 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53. The stock has a 50 day simple moving average of $64.61 and a 200-day simple moving average of $74.92.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 earnings per share. As a group, sell-side analysts anticipate that Polaris will post 3.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Kiltearn Partners LLP boosted its stake in Polaris by 147.9% in the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after purchasing an additional 92,300 shares during the period. FMR LLC raised its position in Polaris by 22.0% in the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after buying an additional 24,103 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Polaris by 545.1% during the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock worth $2,231,000 after buying an additional 22,648 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Polaris by 167.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after purchasing an additional 27,375 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Polaris by 8,867.5% during the third quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after buying an additional 63,225 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

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.