Allworth Financial LP Increases Stake in Polaris Inc. (NYSE:PII)

Allworth Financial LP increased its holdings in Polaris Inc. (NYSE:PII) by 7,462.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,210 shares of the company’s stock after acquiring an additional 1,194 shares during the quarter. Allworth Financial LP’s holdings in Polaris were worth $50,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PII. Linden Thomas Advisory Services LLC lifted its holdings in Polaris by 5.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 7,984 shares of the company’s stock worth $327,000 after buying an additional 379 shares during the period. M&T Bank Corp bought a new position in shares of Polaris in the 1st quarter worth $321,000. ARGA Investment Management LP boosted its position in Polaris by 11.5% during the first quarter. ARGA Investment Management LP now owns 39,203 shares of the company’s stock valued at $1,605,000 after purchasing an additional 4,041 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Polaris in the first quarter valued at about $485,000. Finally, Principal Financial Group Inc. raised its holdings in Polaris by 0.4% in the first quarter. Principal Financial Group Inc. now owns 120,572 shares of the company’s stock worth $4,936,000 after purchasing an additional 423 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Baird R W downgraded shares of Polaris from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird lifted their price target on shares of Polaris from $38.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Citigroup reiterated a “sell” rating and set a $27.00 price objective (up previously from $23.00) on shares of Polaris in a report on Monday, June 16th. Finally, Wall Street Zen downgraded Polaris from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

Polaris Stock Performance

Shares of PII stock opened at $46.80 on Friday. The business has a fifty day moving average of $42.01 and a 200 day moving average of $43.08. Polaris Inc. has a 1 year low of $30.92 and a 1 year high of $87.83. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.12 and a quick ratio of 0.37. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 65.00 and a beta of 1.05.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.01. Polaris had a return on equity of 9.26% and a net margin of 0.58%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The company’s revenue was down 11.6% on a year-over-year basis. As a group, research analysts expect that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.73%. The ex-dividend date was Monday, June 2nd. Polaris’s payout ratio is 372.22%.

Polaris Company Profile

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.