Polaris (NYSE:PII) Given New $53.00 Price Target at Citigroup

Polaris (NYSE:PII) had its price objective lowered by Citigroup from $57.00 to $53.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 3.39% from the stock’s previous close.

A number of other research firms also recently issued reports on PII. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Royal Bank of Canada decreased their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. DA Davidson dropped their price target on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target (down previously from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Finally, Roth Mkm dropped their target price on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.09.

Polaris Trading Down 9.3 %

Shares of PII stock opened at $51.26 on Wednesday. Polaris has a 1-year low of $51.17 and a 1-year high of $100.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The business’s fifty day moving average price is $60.12 and its 200 day moving average price is $72.47. The firm has a market capitalization of $2.86 billion, a PE ratio of 14.32, a P/E/G ratio of 6.05 and a beta of 1.53.

Polaris (NYSE:PII) last posted its quarterly 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 net margin of 2.64% and a return on equity of 17.92%. As a group, sell-side analysts forecast that Polaris will post 3.22 EPS for the current fiscal year.

Institutional Trading of Polaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Polaris by 3.2% during the third quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after purchasing an additional 69,844 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Polaris by 0.7% in the 3rd quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after buying an additional 6,724 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Polaris by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after buying an additional 171,366 shares during the period. Systematic Financial Management LP increased its stake in shares of Polaris by 9.9% during the 3rd quarter. Systematic Financial Management LP now owns 229,565 shares of the company’s stock valued at $19,109,000 after acquiring an additional 20,695 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of Polaris by 0.4% in the third quarter. Royal London Asset Management Ltd. now owns 221,481 shares of the company’s stock worth $18,436,000 after acquiring an additional 818 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.