Polaris (NYSE:PII) Price Target Cut to $29.00 by Analysts at Morgan Stanley

Polaris (NYSE:PII) had its target price decreased by research analysts at Morgan Stanley from $31.00 to $29.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 16.69% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Roth Capital reaffirmed a “neutral” rating on shares of Polaris in a research report on Tuesday, April 22nd. UBS Group reduced their price objective on Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Citigroup cut Polaris from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $49.00 to $33.00 in a research report on Thursday, March 20th. Bank of America reduced their price target on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, BMO Capital Markets dropped 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Polaris has a consensus rating of “Hold” and a consensus target price of $45.36.

Polaris Stock Up 0.3 %

PII stock opened at $34.81 on Thursday. The stock has a market capitalization of $1.95 billion, a P/E ratio of 17.76, a P/E/G ratio of 13.95 and a beta of 1.32. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. Polaris has a 1-year low of $30.92 and a 1-year high of $90.62. The business has a fifty day moving average price of $38.88 and a 200-day moving average price of $52.82.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.01. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business earned $0.23 EPS. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. Equities analysts forecast that Polaris will post 1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Capital World Investors raised its holdings in Polaris by 6.7% during the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock valued at $354,725,000 after acquiring an additional 388,050 shares during the period. Vanguard Group Inc. boosted its stake in shares of Polaris by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,642,463 shares of the company’s stock worth $325,119,000 after acquiring an additional 39,858 shares during the period. Beutel Goodman & Co Ltd. grew its position in shares of Polaris by 2.6% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,775,331 shares of the company’s stock worth $159,914,000 after purchasing an additional 69,766 shares in the last quarter. RWWM Inc. raised its stake in Polaris by 169.2% during the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company’s stock valued at $98,053,000 after purchasing an additional 1,505,351 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Polaris by 0.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,284,077 shares of the company’s stock valued at $131,609,000 after purchasing an additional 21,087 shares during the period. Hedge funds and other 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.