Polaris (NYSE:PII) Price Target Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its price target cut by Truist Financial from $96.00 to $92.00 in a report released on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird dropped their price objective on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday. BMO Capital Markets lowered their price target on shares of Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada upped their price target on shares of Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Longbow Research raised shares of Polaris from a neutral rating to a buy rating and set a $120.00 price target on the stock in a research note on Monday, April 8th. Finally, Bank of America began coverage on shares of Polaris in a research note on Wednesday, April 3rd. They set a neutral rating and a $110.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $100.27.

Polaris Stock Performance

Shares of PII opened at $85.21 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. The stock has a market capitalization of $4.81 billion, a P/E ratio of 12.49, a P/E/G ratio of 2.35 and a beta of 1.60. The company’s fifty day moving average is $92.86 and its two-hundred day moving average is $91.61. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (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 analysts’ expectations of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. Polaris’s revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. On average, sell-side analysts predict that Polaris will post 7.97 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.66 dividend. The ex-dividend date was Thursday, February 29th. This is a positive change from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a dividend yield of 3.10%. Polaris’s payout ratio is currently 38.71%.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently made changes to their positions in the business. Creekmur Asset Management LLC purchased a new stake in shares of Polaris in the 4th quarter worth about $27,000. BKM Wealth Management LLC purchased a new position in Polaris in the 4th quarter valued at about $31,000. Verity & Verity LLC purchased a new position in Polaris in the 1st quarter valued at about $37,000. First United Bank & Trust purchased a new position in Polaris in the 4th quarter valued at about $40,000. Finally, Larson Financial Group LLC lifted its holdings in Polaris by 536.5% in the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock valued at $42,000 after purchasing an additional 338 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.