Polaris (NYSE:PII) Shares Gap Down Following Weak Earnings

Polaris Inc. (NYSE:PIIGet Free Report) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $92.71, but opened at $86.00. Polaris shares last traded at $90.00, with a volume of 283,097 shares trading hands.

The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.69). Polaris had a return on equity of 51.02% and a net margin of 6.57%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business posted $3.46 earnings per share. Polaris’s revenue was down 4.8% on a year-over-year basis.

Wall Street Analyst Weigh In

PII has been the topic of several research analyst reports. BMO Capital Markets decreased their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Wednesday. Roth Mkm reduced their price target on shares of Polaris from $122.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. DA Davidson reduced their price target on shares of Polaris from $90.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, December 15th. Robert W. Baird reduced their price target on shares of Polaris from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 4th. Finally, Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.90.

Read Our Latest Stock Report on Polaris

Institutional Trading of Polaris

Several institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in shares of Polaris by 71.2% during the second quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock worth $30,000 after purchasing an additional 104 shares during the period. BKM Wealth Management LLC bought a new position in shares of Polaris during the fourth quarter worth about $31,000. Money Concepts Capital Corp grew its position in shares of Polaris by 89.1% during the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after acquiring an additional 147 shares during the last quarter. IFP Advisors Inc grew its position in shares of Polaris by 30.4% during the second quarter. IFP Advisors Inc now owns 395 shares of the company’s stock worth $33,000 after acquiring an additional 92 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Polaris by 526.0% during the second quarter. Huntington National Bank now owns 313 shares of the company’s stock worth $38,000 after acquiring an additional 263 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Polaris Stock Up 0.8 %

The firm’s 50-day moving average price is $90.63 and its 200 day moving average price is $101.53. The firm has a market cap of $5.08 billion, a P/E ratio of 8.79 and a beta of 1.59. The company has a quick ratio of 0.41, a current ratio of 1.25 and a debt-to-equity ratio of 1.24.

About Polaris

(Get Free Report)

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles worldwide. 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; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.

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