Polaris (NYSE:PII) Given New $96.00 Price Target at Citigroup

Polaris (NYSE:PII) had its price objective cut by Citigroup from $100.00 to $96.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also issued reports on PII. Morgan Stanley upgraded shares of Polaris from an equal weight rating to an overweight rating and upped their target price for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. BMO Capital Markets reduced their target price on shares of Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a report on Wednesday, January 31st. DA Davidson restated a neutral rating and issued a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. KeyCorp cut their price objective on shares of Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a report on Friday, January 12th. Finally, Robert W. Baird decreased their target price on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $100.27.

Polaris Price Performance

Polaris stock opened at $85.21 on Wednesday. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The firm’s 50-day simple moving average is $92.86 and its 200 day simple moving average is $91.61. The firm has a market capitalization of $4.81 billion, a PE ratio of 12.49, a P/E/G ratio of 2.35 and a beta of 1.60.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities research analysts predict that Polaris will post 7.97 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.10%. This is a boost from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. Polaris’s payout ratio is 38.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creekmur Asset Management LLC acquired a new position in Polaris during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new stake in shares of Polaris during the fourth quarter valued at approximately $31,000. Verity & Verity LLC purchased a new stake in shares of Polaris during the first quarter valued at approximately $37,000. First United Bank & Trust purchased a new stake in shares of Polaris during the fourth quarter valued at approximately $40,000. Finally, Larson Financial Group LLC raised its stake in shares of Polaris by 536.5% during the third quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock valued at $42,000 after purchasing an additional 338 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

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.