Polaris (NYSE:PII) Rating Lowered to Sector Weight at KeyCorp

KeyCorp downgraded shares of Polaris (NYSE:PII) from an overweight rating to a sector weight rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports.

PII has been the subject of a number of other reports. DA Davidson dropped their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Robert W. Baird decreased their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a report on Monday, December 30th. StockNews.com upgraded shares of Polaris from a “sell” rating to a “hold” rating in a report on Monday, December 30th. Truist Financial lowered their price objective on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $84.00.

Polaris Stock Down 4.4 %

Polaris stock opened at $55.54 on Wednesday. The company has a market capitalization of $3.10 billion, a P/E ratio of 15.51, a P/E/G ratio of 6.59 and a beta of 1.53. Polaris has a 1-year low of $55.19 and a 1-year high of $100.91. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The firm’s fifty day simple moving average is $63.96 and its 200-day simple moving average is $74.64.

Polaris (NYSE:PII) last posted its quarterly 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. Sell-side analysts forecast that Polaris will post 3.22 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris’s dividend payout ratio is currently 73.74%.

Hedge Funds Weigh In On Polaris

Several institutional investors have recently bought and sold shares of the company. Kiltearn Partners LLP raised its position in shares of Polaris by 147.9% in the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after buying an additional 92,300 shares in the last quarter. FMR LLC grew its stake in shares of Polaris by 22.0% during the third quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after buying an additional 24,103 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Polaris by 545.1% during the third quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock worth $2,231,000 after purchasing an additional 22,648 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Polaris by 167.1% during the third quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after purchasing an additional 27,375 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Polaris by 8,867.5% during the third quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after purchasing an additional 63,225 shares during the period. 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.