Royal Bank of Canada Reiterates Sector Perform Rating for Polaris (NYSE:PII)

Polaris (NYSE:PII)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $54.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 23.30% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Bank of America reduced their price objective on Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday. BMO Capital Markets reduced their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 29th. DA Davidson cut their target price on shares of Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Finally, UBS Group lowered their price target on Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.50.

Polaris Price Performance

PII stock traded up $1.47 during trading on Monday, hitting $43.80. The stock had a trading volume of 331,482 shares, compared to its average volume of 943,220. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The company’s 50 day moving average price is $48.63 and its two-hundred day moving average price is $63.94. Polaris has a 1-year low of $39.79 and a 1-year high of $100.91.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, sell-side analysts forecast that Polaris will post 1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PII. Capital World Investors increased its stake in shares of Polaris by 6.7% in the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock valued at $354,725,000 after purchasing an additional 388,050 shares during the period. Vanguard Group Inc. grew its holdings in Polaris by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,642,463 shares of the company’s stock worth $325,119,000 after buying an additional 39,858 shares in the last quarter. Beutel Goodman & Co Ltd. increased its position in Polaris by 2.6% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,775,331 shares of the company’s stock valued at $159,914,000 after acquiring an additional 69,766 shares during the period. The Manufacturers Life Insurance Company raised its stake 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 acquiring an additional 21,087 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Polaris by 3.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after acquiring an additional 69,844 shares during the period. Institutional investors and hedge funds 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.