Polaris (NYSE:PII) Shares Down 5.1% – Here’s What Happened

Polaris Inc. (NYSE:PII) shares dropped 5.1% on Tuesday . The company traded as low as $45.31 and last traded at $45.02. Approximately 84,471 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 929,029 shares. The stock had previously closed at $47.45.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PII shares. Royal Bank of Canada decreased their price objective on Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 29th. Truist Financial decreased their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. UBS Group reduced their target price on Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Roth Mkm reduced their target price on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Finally, BMO Capital Markets reduced their target price on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. One 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. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and an average price target of $66.17.

Polaris Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The company has a market capitalization of $2.50 billion, a P/E ratio of 22.72, a P/E/G ratio of 13.95 and a beta of 1.54. The stock has a 50-day moving average price of $49.48 and a 200-day moving average price of $64.84.

Polaris (NYSE:PII) last issued its 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 return on equity of 13.78% and a net margin of 1.54%. On average, research analysts predict that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The company 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 $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio (DPR) is 136.73%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Polaris during the fourth quarter valued at approximately $2,992,000. Neo Ivy Capital Management lifted its holdings in Polaris by 525.5% during the fourth quarter. Neo Ivy Capital Management now owns 38,766 shares of the company’s stock worth $2,233,000 after acquiring an additional 32,568 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in Polaris by 125.4% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 6,090 shares of the company’s stock worth $351,000 after acquiring an additional 3,388 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Polaris by 18.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,705 shares of the company’s stock worth $8,280,000 after acquiring an additional 22,643 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in Polaris by 141.2% during the fourth quarter. Voloridge Investment Management LLC now owns 175,724 shares of the company’s stock worth $10,125,000 after acquiring an additional 102,876 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

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.