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

Polaris Inc. (NYSE:PII) gapped down before the market opened on Tuesday . The stock had previously closed at $56.52, but opened at $54.30. Polaris shares last traded at $51.87, with a volume of 645,484 shares traded.

Analysts Set New Price Targets

PII has been the topic of several recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird lowered their price target on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Finally, Roth Mkm lowered their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Polaris presently has a consensus rating of “Hold” and a consensus price target of $73.45.

Polaris Trading Down 8.1 %

The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The business has a 50 day moving average of $60.42 and a 200-day moving average of $72.68. The stock has a market cap of $2.90 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 6.05 and a beta of 1.53.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 17.92% and a net margin of 2.64%. On average, analysts anticipate that Polaris Inc. will post 3.22 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PII. Venturi Wealth Management LLC lifted its stake in shares of Polaris by 534.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the period. Blue Trust Inc. lifted its stake in shares of Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the period. Quarry LP lifted its stake in shares of Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the period. GAMMA Investing LLC lifted its stake in shares of Polaris by 232.6% during the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after purchasing an additional 677 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Polaris by 19.9% during the 3rd 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. 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.