Polaris (NYSE:PII) PT Lowered to $110.00 at Citigroup

Polaris (NYSE:PII) had its price target lowered by Citigroup from $138.00 to $110.00 in a research note released on Tuesday, Marketbeat reports. Citigroup currently has a neutral rating on the stock.

PII has been the subject of several other reports. KeyCorp raised their price objective on shares of Polaris from $135.00 to $145.00 and gave the stock an overweight rating in a report on Wednesday, July 26th. Truist Financial raised their price objective on shares of Polaris from $100.00 to $125.00 and gave the stock a hold rating in a report on Wednesday, July 26th. Raymond James lowered shares of Polaris from a strong-buy rating to a market perform rating in a report on Tuesday, July 18th. Royal Bank of Canada raised their price objective on shares of Polaris from $115.00 to $121.00 in a report on Wednesday, July 26th. Finally, BMO Capital Markets raised their price objective on shares of Polaris from $110.00 to $130.00 and gave the stock a market perform rating in a report on Wednesday, July 26th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris presently has a consensus rating of Hold and an average price target of $121.64.

Polaris Stock Performance

NYSE:PII opened at $106.62 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 1.21. The company has a market cap of $6.04 billion, a P/E ratio of 9.96 and a beta of 1.68. Polaris has a fifty-two week low of $91.86 and a fifty-two week high of $138.49. The firm’s 50 day moving average is $121.61 and its two-hundred day moving average is $114.77.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 25th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.14 billion. Polaris had a net margin of 6.89% and a return on equity of 57.98%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 EPS. Analysts expect that Polaris will post 10.41 EPS for the current year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, August 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.44%. Polaris’s dividend payout ratio (DPR) is 24.28%.

Insiders Place Their Bets

In other Polaris news, CFO Robert Paul Mack sold 8,312 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $130.00, for a total transaction of $1,080,560.00. Following the sale, the chief financial officer now directly owns 28,356 shares in the company, valued at approximately $3,686,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Robert Paul Mack sold 8,312 shares of Polaris stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $130.00, for a total value of $1,080,560.00. Following the transaction, the chief financial officer now owns 28,356 shares of the company’s stock, valued at approximately $3,686,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin M. Farr sold 3,225 shares of Polaris stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $133.28, for a total transaction of $429,828.00. Following the completion of the transaction, the director now directly owns 14,645 shares in the company, valued at approximately $1,951,885.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,464 shares of company stock worth $19,593,994. 2.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Polaris

Several hedge funds have recently made changes to their positions in PII. Vigilant Capital Management LLC acquired a new position in shares of Polaris in the 1st quarter worth approximately $28,000. Dark Forest Capital Management LP increased its position in shares of Polaris by 64.8% in the fourth quarter. Dark Forest Capital Management LP now owns 290 shares of the company’s stock worth $29,000 after acquiring an additional 114 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Polaris by 71.2% in the second quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock worth $30,000 after acquiring an additional 104 shares in the last quarter. Money Concepts Capital Corp increased its position in shares of Polaris by 89.1% in the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after acquiring an additional 147 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Polaris by 30.4% in the second quarter. IFP Advisors Inc now owns 395 shares of the company’s stock worth $33,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles worldwide. 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; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.