Polaris (NYSE:PII) Reaches New 1-Year Low After Analyst Downgrade

Polaris Inc. (NYSE:PII)’s share price reached a new 52-week low on Wednesday after DA Davidson lowered their price target on the stock from $69.00 to $60.00. DA Davidson currently has a buy rating on the stock. Polaris traded as low as $51.17 and last traded at $51.26, with a volume of 3997969 shares traded. The stock had previously closed at $56.52.

Several other equities analysts also recently issued reports on the company. Royal Bank of Canada cut their target price on Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Roth Mkm reduced their price objective on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. BMO Capital Markets dropped their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday. Robert W. Baird reduced their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Finally, Citigroup dropped their price objective on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $67.82.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PII. Charles Schwab Investment Management Inc. lifted its holdings in Polaris by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after purchasing an additional 171,366 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Polaris in the 3rd quarter worth about $12,670,000. Weiss Asset Management LP purchased a new stake in Polaris during the 3rd quarter worth approximately $10,844,000. Kiltearn Partners LLP raised its holdings in shares of Polaris by 147.9% during the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after acquiring an additional 92,300 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Polaris by 3.2% in the third quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock valued at $188,371,000 after acquiring an additional 69,844 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Price Performance

The company has a 50-day moving average of $59.44 and a 200 day moving average of $72.14. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $2.73 billion, a PE ratio of 13.67, a PEG ratio of 6.05 and a beta of 1.53.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Sell-side analysts predict that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.48%. This is a positive change from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is 73.74%.

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.