BMO Capital Markets Cuts Polaris (NYSE:PII) Price Target to $50.00

Polaris (NYSE:PII) had its price objective reduced by BMO Capital Markets from $60.00 to $50.00 in a report released on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada cut their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. DA Davidson reduced their price objective on Polaris from $84.00 to $69.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Roth Mkm reduced their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price objective (down previously from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.82.

Polaris Stock Down 2.8 %

Shares of NYSE:PII opened at $47.68 on Wednesday. Polaris has a 12-month low of $47.53 and a 12-month high of $100.91. The stock’s 50-day moving average price is $59.03 and its two-hundred day moving average price is $71.91. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 14.41 and a beta of 1.53.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, research analysts forecast that Polaris will post 1.14 EPS for the current year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 5.62%. Polaris’s dividend payout ratio (DPR) is currently 134.69%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PII. Kiltearn Partners LLP increased its holdings in Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after purchasing an additional 92,300 shares during the last quarter. FMR LLC increased its stake in shares of Polaris by 22.0% in the third quarter. FMR LLC now owns 133,665 shares of the company’s stock worth $11,126,000 after buying an additional 24,103 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Polaris by 545.1% in the third quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock worth $2,231,000 after buying an additional 22,648 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Polaris by 167.1% in the third quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after acquiring an additional 27,375 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in Polaris by 8,867.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock valued at $5,322,000 after acquiring an additional 63,225 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

About Polaris

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.