Bank of America Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price target trimmed by Bank of America from $55.00 to $45.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Roth Mkm lowered their target price on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Truist Financial lowered their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Citigroup cut their target price on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 price target (down previously from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Finally, DA Davidson dropped their price objective on shares of Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Polaris has an average rating of “Hold” and an average price target of $61.50.

Polaris Stock Up 3.9 %

Shares of PII opened at $44.00 on Monday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 22.45, a P/E/G ratio of 13.95 and a beta of 1.54. Polaris has a 12-month low of $39.79 and a 12-month high of $100.91. The firm has a fifty day moving average price of $48.34 and a 200-day moving average price of $63.66. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping 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%. Equities research analysts expect that Polaris will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.67 per share. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date was Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 6.09%. Polaris’s dividend payout ratio is presently 136.73%.

Institutional Trading of Polaris

A number of institutional investors have recently made changes to their positions in PII. Larson Financial Group LLC boosted its stake in Polaris by 386.5% in the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after purchasing an additional 402 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Polaris in the fourth quarter worth $29,000. Lindbrook Capital LLC grew its holdings in shares of Polaris by 295.4% during the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock valued at $30,000 after buying an additional 387 shares during the last quarter. Quarry LP grew its holdings in shares of Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Polaris by 232.6% in the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 shares during the period. 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.