Polaris (NYSE:PII) PT Lowered to $96.00

Polaris (NYSE:PII) had its price objective decreased by Citigroup from $100.00 to $96.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other analysts have also commented on the company. Bank of America began coverage on Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target for the company. KeyCorp dropped their price target on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research note on Friday, January 12th. Royal Bank of Canada dropped their price target on Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a research note on Wednesday. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price target for the company in a research note on Monday, April 8th. Finally, BMO Capital Markets dropped their price target on Polaris from $100.00 to $95.00 and set a market perform rating for the company in a research note on Wednesday, January 31st. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $100.27.

Polaris Stock Performance

Polaris stock opened at $83.79 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The firm has a market cap of $4.73 billion, a P/E ratio of 12.29, a P/E/G ratio of 2.50 and a beta of 1.60. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49. The firm has a 50-day moving average of $92.56 and a 200-day moving average of $91.51.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. Sell-side analysts expect that Polaris will post 7.93 EPS for the current year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 annualized dividend and a yield of 3.15%. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Hedge Funds Weigh In On Polaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in Polaris by 10,524.7% during the fourth quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock valued at $5,820,000 after buying an additional 60,833 shares during the period. Camarda Financial Advisors LLC bought a new position in shares of Polaris during the third quarter valued at $1,354,000. Quantbot Technologies LP bought a new position in shares of Polaris during the third quarter valued at $1,227,000. Envestnet Asset Management Inc. increased its holdings in shares of Polaris by 35.6% during the third quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company’s stock valued at $11,938,000 after acquiring an additional 30,114 shares in the last quarter. Finally, Gotham Asset Management LLC increased its holdings in shares of Polaris by 61.2% during the third quarter. Gotham Asset Management LLC now owns 75,625 shares of the company’s stock valued at $7,876,000 after acquiring an additional 28,700 shares in the last quarter. 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.