Polaris (NYSE:PII) Sees Unusually-High Trading Volume – Time to Buy?

Polaris Inc. (NYSE:PII) saw unusually-strong trading volume on Tuesday . Approximately 504,563 shares changed hands during trading, a decline of 29% from the previous session’s volume of 714,784 shares.The stock last traded at $75.10 and had previously closed at $80.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Roth Mkm lowered their target price on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial lowered their price objective on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Royal Bank of Canada dropped their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday. Citigroup reduced their target price on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.36.

Polaris Stock Down 3.5 %

The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $82.04 and a 200 day simple moving average of $82.04. The firm has a market capitalization of $3.88 billion, a PE ratio of 19.46, a PEG ratio of 7.48 and a beta of 1.51.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The firm’s revenue for the quarter was down 23.4% on a year-over-year basis. As a group, sell-side analysts forecast that Polaris Inc. will post 3.25 earnings per share for the current year.

Hedge Funds Weigh In On Polaris

A number of hedge funds have recently modified their holdings of PII. New England Capital Financial Advisors LLC bought a new stake in shares of Polaris in the first quarter worth about $25,000. Blue Trust Inc. raised its position in Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Polaris by 174.1% in the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 shares during the period. Signaturefd LLC lifted its holdings in Polaris by 1,931.3% in the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after buying an additional 618 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Polaris in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.