UBS Group Cuts Polaris (NYSE:PII) Price Target to $48.00

Polaris (NYSE:PII) had its price target decreased by UBS Group from $67.00 to $48.00 in a report released on Monday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on PII. Royal Bank of Canada reduced their price target on shares of Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 29th. Truist Financial cut their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Finally, Citigroup lowered their price objective on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.17.

Polaris Stock Performance

Shares of PII stock opened at $45.32 on Monday. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 14.51 and a beta of 1.50. Polaris has a one year low of $43.20 and a one year high of $100.91. The company’s 50-day simple moving average is $57.59 and its 200-day simple moving average is $70.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. Equities analysts anticipate that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently declared 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 is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is presently 136.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PII. Bank of New York Mellon Corp lifted its position in shares of Polaris by 45.3% during the 4th quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after acquiring an additional 241,926 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Polaris in the 3rd quarter valued at $12,670,000. Weiss Asset Management LP purchased a new position in Polaris in the 3rd quarter worth about $10,844,000. Finally, Kiltearn Partners LLP raised its holdings in Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after buying an additional 92,300 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.