Polaris (NYSE:PII) Downgraded to “Sell” Rating by Citigroup

Citigroup downgraded shares of Polaris (NYSE:PII) from a neutral rating to a sell rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has $33.00 price target on the stock, down from their previous price target of $49.00.

Other equities analysts also recently issued research reports about the company. Truist Financial dropped their price target on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $54.00 target price on shares of Polaris in a research note on Monday. BMO Capital Markets decreased their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 29th. Finally, DA Davidson cut their price objective on shares of Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.83.

Polaris Trading Down 0.9 %

NYSE:PII opened at $42.17 on Thursday. The company has a market capitalization of $2.37 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. Polaris has a 52-week low of $39.29 and a 52-week high of $100.91. The stock has a fifty day simple moving average of $47.51 and a 200-day simple moving average of $63.07. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, equities research analysts expect that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date was Monday, March 3rd. Polaris’s dividend payout ratio is presently 136.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Polaris in the 4th quarter worth about $21,776,000. State of Alaska Department of Revenue increased its position in Polaris by 371.7% during the 4th quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock worth $1,669,000 after purchasing an additional 22,835 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Polaris by 45.3% in the fourth quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after buying an additional 241,926 shares during the period. Angeles Wealth Management LLC acquired a new position in Polaris during the fourth quarter valued at approximately $1,318,000. Finally, Amundi purchased a new stake in Polaris during the fourth quarter worth approximately $1,179,000. Institutional investors and hedge funds 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.