Polaris (NYSE:PII) Cut to “Neutral” at Robert W. Baird

Robert W. Baird downgraded shares of Polaris (NYSE:PII) from an outperform rating to a neutral rating in a research report released on Friday morning, Marketbeat Ratings reports. Robert W. Baird currently has $40.00 price objective on the stock, down from their prior price objective of $56.00.

Several other equities analysts have also recently weighed in on the stock. Truist Financial lowered their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Roth Mkm dropped their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Finally, Citigroup lowered shares of Polaris from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $49.00 to $33.00 in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.50.

Polaris Trading Up 1.5 %

Shares of NYSE PII opened at $36.67 on Friday. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris has a 12 month low of $33.61 and a 12 month high of $100.00. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 13.95 and a beta of 1.32. The business has a fifty day simple moving average of $44.41 and a 200-day simple moving average of $59.71.

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

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.67 per share. This is a positive change 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 7.31%. Polaris’s dividend payout ratio is 136.73%.

Institutional Investors Weigh In On Polaris

Several institutional investors and hedge funds have recently modified their holdings of PII. National Bank of Canada FI raised its holdings in Polaris by 19.9% during the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after buying an additional 183 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after acquiring an additional 183 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Polaris by 1.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 22,484 shares of the company’s stock valued at $1,295,000 after acquiring an additional 241 shares in the last quarter. Quarry LP lifted its holdings in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Polaris by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after purchasing an additional 263 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.