Polaris (NYSE:PII) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Polaris (NYSE:PII) from a buy rating to a hold rating in a report published on Thursday.

Several other equities research analysts have also commented on PII. BMO Capital Markets lowered their price objective on Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research report on Wednesday, January 31st. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price target on the stock. Longbow Research raised shares of Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Robert W. Baird lowered their target price on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. Finally, Truist Financial dropped their target price on Polaris from $96.00 to $92.00 and set a hold rating on the stock in a research report on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Polaris has a consensus rating of Hold and an average price target of $100.27.

Polaris Stock Performance

Shares of PII stock traded up $0.13 during trading hours on Thursday, hitting $83.92. The company’s stock had a trading volume of 604,140 shares, compared to its average volume of 842,588. The stock has a market cap of $4.74 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.43 and a beta of 1.61. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. The company has a 50 day moving average of $91.61 and a 200 day moving average of $90.95. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 earnings per share. On average, sell-side analysts forecast that Polaris will post 8.01 EPS for the current fiscal year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.15%. Polaris’s payout ratio is currently 38.71%.

Institutional Investors Weigh In On Polaris

Large investors have recently modified their holdings of the business. New England Capital Financial Advisors LLC acquired a new position in Polaris during the first quarter worth about $25,000. Creekmur Asset Management LLC acquired a new position in shares of Polaris during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC acquired a new stake in shares of Polaris in the fourth quarter valued at approximately $31,000. Verity & Verity LLC purchased a new position in Polaris during the first quarter worth approximately $37,000. Finally, First United Bank & Trust acquired a new position in Polaris during the fourth quarter worth $40,000. 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.