Polaris (NYSE:PII) Price Target Cut to $97.00 by Analysts at Royal Bank of Canada

Polaris (NYSE:PII) had its price objective decreased by analysts at Royal Bank of Canada from $103.00 to $97.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 14.75% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Truist Financial cut their target price on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a research note on Wednesday. Robert W. Baird lowered their price target on Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday. DA Davidson reissued a “neutral” rating and set a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Finally, KeyCorp cut their price target on Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $101.55.

Polaris Stock Down 2.3 %

NYSE:PII traded down $1.97 during trading hours on Wednesday, reaching $84.53. The company’s stock had a trading volume of 396,430 shares, compared to its average volume of 683,340. The company has a market capitalization of $4.77 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.60. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.46 and a current ratio of 1.39. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49. The stock has a 50 day moving average price of $92.93 and a two-hundred day moving average price of $91.69.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Equities analysts predict that Polaris will post 7.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Polaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lantz Financial LLC lifted its stake in shares of Polaris by 0.8% during the 1st quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock worth $1,480,000 after purchasing an additional 114 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Polaris by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock worth $2,466,000 after acquiring an additional 120 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Polaris by 3.3% during the first quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock valued at $377,000 after buying an additional 122 shares during the last quarter. Security National Bank of SO Dak increased its stake in shares of Polaris by 1.5% during the third quarter. Security National Bank of SO Dak now owns 8,730 shares of the company’s stock valued at $909,000 after acquiring an additional 130 shares during the period. Finally, Miracle Mile Advisors LLC grew its position in Polaris by 5.4% in the third quarter. Miracle Mile Advisors LLC now owns 2,735 shares of the company’s stock worth $285,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds 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.