Polaris (NYSE:PII) Sets New 52-Week Low – Should You Sell?

Polaris Inc. (NYSE:PII) hit a new 52-week low on Thursday . The company traded as low as $37.14 and last traded at $37.25, with a volume of 680447 shares changing hands. The stock had previously closed at $42.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PII shares. Truist Financial dropped their price target on Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Bank of America reduced their price target on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, March 17th. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Finally, UBS Group reduced their price objective on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $58.50.

Polaris Price Performance

The stock has a 50-day moving average price of $44.41 and a two-hundred day moving average price of $60.04. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating 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%. As a group, equities research analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.67 per share. This is a positive change from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date was Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 7.31%. Polaris’s dividend payout ratio is presently 136.73%.

Institutional Investors Weigh In On Polaris

Several institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI lifted its holdings in shares of Polaris by 19.9% during the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares during the period. Nordea Investment Management AB grew its position in shares of Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after acquiring an additional 183 shares during the period. TD Waterhouse Canada Inc. boosted its position in Polaris by 1.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 22,484 shares of the company’s stock worth $1,295,000 after purchasing an additional 241 shares in the last quarter. Quarry LP grew its holdings in Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Polaris by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock valued at $208,000 after buying an additional 263 shares in the last quarter. 88.06% of the stock is currently 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.