Polaris (NYSE:PII) PT Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its target price lowered by Truist Financial from $96.00 to $92.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

PII has been the subject of a number of other research reports. DA Davidson reissued a neutral rating and set a $80.00 price objective on shares of Polaris in a research note on Tuesday, March 5th. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price target for the company in a research note on Monday, April 8th. BMO Capital Markets dropped their price target on Polaris from $100.00 to $95.00 and set a market perform rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada raised their price target on Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Finally, Bank of America initiated coverage on Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $100.27.

Polaris Stock Performance

NYSE:PII opened at $83.79 on Wednesday. The firm has a market cap of $4.73 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. Polaris has a fifty-two week low of $82.00 and a fifty-two week high of $138.49. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. The business has a 50 day moving average price of $92.56 and a 200-day moving average price of $91.51.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities research analysts predict that Polaris will post 7.93 earnings per share for the current year.

Polaris Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 3.15%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Hedge Funds Weigh In On Polaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Polaris by 10,524.7% during the fourth quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock valued at $5,820,000 after buying an additional 60,833 shares during the period. Camarda Financial Advisors LLC purchased a new position in shares of Polaris in the 3rd quarter worth about $1,354,000. Quantbot Technologies LP purchased a new position in shares of Polaris in the 3rd quarter worth about $1,227,000. Envestnet Asset Management Inc. raised its position in shares of Polaris by 35.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company’s stock worth $11,938,000 after purchasing an additional 30,114 shares during the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Polaris by 61.2% in the 3rd quarter. Gotham Asset Management LLC now owns 75,625 shares of the company’s stock worth $7,876,000 after purchasing an additional 28,700 shares during the last quarter. Hedge funds and other 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.