Polaris (NYSE:PII) Downgraded to “Sell” Rating by Citigroup

Citigroup lowered shares of Polaris (NYSE:PII) from a neutral rating to a sell rating in a research report report published on Thursday, Marketbeat Ratings reports. They currently have $33.00 price objective on the stock, down from their previous price objective of $49.00.

PII has been the topic of a number of other reports. Robert W. Baird reduced their target price on shares of Polaris from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Truist Financial cut their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Roth Mkm cut their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets cut their price objective on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average target price of $59.83.

Polaris Price Performance

Shares of Polaris stock opened at $41.95 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 13.95 and a beta of 1.54. Polaris has a 1-year low of $39.29 and a 1-year high of $100.91. The firm’s 50-day moving average price is $47.26 and its two-hundred day moving average price is $62.64.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, equities analysts predict that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.67 per share. This is an increase from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. Polaris’s dividend payout ratio is currently 136.73%.

Institutional Investors Weigh In On Polaris

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Polaris during the fourth quarter worth $21,776,000. State of Alaska Department of Revenue grew its position in Polaris by 371.7% in the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock valued at $1,669,000 after purchasing an additional 22,835 shares in the last quarter. Bank of New York Mellon Corp grew its position in Polaris by 45.3% in the fourth quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after purchasing an additional 241,926 shares in the last quarter. Angeles Wealth Management LLC bought a new position in Polaris in the fourth quarter valued at $1,318,000. Finally, Amundi bought a new position in Polaris in the fourth quarter valued at $1,179,000. Institutional investors 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.