Polaris (NYSE:PII) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Polaris (NYSE:PII) had its price objective lifted by Robert W. Baird from $38.00 to $46.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages also recently issued reports on PII. Citigroup restated a “sell” rating and issued a $27.00 price objective (up from $23.00) on shares of Polaris in a research report on Monday, June 16th. Bank of America reduced their target price on Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Truist Financial reduced their target price on Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Roth Capital reiterated a “neutral” rating on shares of Polaris in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada reduced their target price on Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Polaris has an average rating of “Hold” and a consensus price target of $46.00.

Polaris Stock Down 0.5%

Shares of NYSE:PII opened at $46.44 on Thursday. The company has a quick ratio of 0.37, a current ratio of 1.12 and a debt-to-equity ratio of 1.32. Polaris has a 52-week low of $30.92 and a 52-week high of $88.00. The stock’s fifty day simple moving average is $39.12 and its 200-day simple moving average is $43.85. The company has a market capitalization of $2.61 billion, a P/E ratio of 64.50 and a beta of 1.05.

Polaris (NYSE:PII) last issued its quarterly earnings data 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 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 the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned $0.23 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.67 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.77%. Polaris’s dividend payout ratio (DPR) is 372.22%.

Hedge Funds Weigh In On Polaris

A number of large investors have recently modified their holdings of PII. RWWM Inc. raised its holdings in shares of Polaris by 169.2% in the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company’s stock worth $98,053,000 after purchasing an additional 1,505,351 shares during the period. Select Equity Group L.P. raised its holdings in shares of Polaris by 142.1% in the 1st quarter. Select Equity Group L.P. now owns 1,620,565 shares of the company’s stock worth $66,346,000 after purchasing an additional 951,195 shares during the period. Invesco Ltd. raised its holdings in shares of Polaris by 352.5% in the 1st quarter. Invesco Ltd. now owns 902,751 shares of the company’s stock worth $36,959,000 after purchasing an additional 703,240 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Polaris by 132.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock worth $51,909,000 after purchasing an additional 513,542 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Polaris by 12,099.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 513,343 shares of the company’s stock worth $21,016,000 after purchasing an additional 509,135 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.