Citigroup Cuts Polaris (NYSE:PII) Price Target to $96.00

Polaris (NYSE:PII) had its price target cut by Citigroup from $100.00 to $96.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on PII. Bank of America started coverage on shares of Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price objective for the company. KeyCorp lowered their price objective on shares of Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research report on Friday, January 12th. Royal Bank of Canada lowered their price objective on shares of Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a research report on Wednesday. Longbow Research upgraded shares of Polaris from a neutral rating to a buy rating and set a $120.00 price target for the company in a research report on Monday, April 8th. Finally, Truist Financial decreased their price target on shares of Polaris from $96.00 to $92.00 and set a hold rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $100.27.

Polaris Price Performance

Shares of NYSE:PII opened at $83.79 on Wednesday. The firm has a 50 day moving average of $92.56 and a 200-day moving average of $91.51. The stock has a market capitalization of $4.73 billion, a PE ratio of 12.29, a PEG ratio of 2.50 and a beta of 1.60. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during 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%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. On average, equities research analysts predict that Polaris will post 7.93 EPS for the current fiscal year.

Polaris Increases Dividend

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

Institutional Investors Weigh In On Polaris

A number of institutional investors have recently modified their holdings of the company. Capital World Investors boosted its stake in shares of Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock valued at $640,447,000 after purchasing an additional 160,918 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Polaris by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after purchasing an additional 48,179 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Polaris by 8.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after purchasing an additional 202,794 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of Polaris in the 1st quarter valued at $108,890,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Polaris by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock valued at $80,663,000 after purchasing an additional 82,779 shares during the last quarter. 88.06% of the stock is owned by 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.