Polaris (NYSE:PII) Price Target Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its target price cut by Truist Financial from $96.00 to $92.00 in a research note released on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley upgraded Polaris from an equal weight rating to an overweight rating and boosted their price objective for the stock from $103.00 to $113.00 in a report on Wednesday, January 17th. BMO Capital Markets cut their price objective on Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a report on Wednesday, January 31st. DA Davidson reiterated a neutral rating and issued a $80.00 target price on shares of Polaris in a report on Tuesday, March 5th. Royal Bank of Canada upped their target price on Polaris from $100.00 to $103.00 and gave the company a sector perform rating in a report on Wednesday, January 31st. Finally, Robert W. Baird dropped their target price on Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $100.27.

Polaris Price Performance

NYSE PII opened at $85.21 on Wednesday. The stock’s 50-day moving average price is $92.86 and its two-hundred day moving average price is $91.61. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The company has a market cap of $4.81 billion, a PE ratio of 12.49, a PEG ratio of 2.35 and a beta of 1.60. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. On average, analysts predict that Polaris will post 7.97 EPS for the current year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.66 dividend. This is a boost from Polaris’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a dividend yield of 3.10%. Polaris’s payout ratio is presently 38.71%.

Institutional Investors Weigh In On Polaris

Several large investors have recently made changes to their positions in the company. Capital World Investors grew its stake in shares of Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock valued at $640,447,000 after buying an additional 160,918 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Polaris by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after buying an additional 48,179 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Polaris by 8.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after buying an additional 202,794 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Polaris in the 1st quarter valued at approximately $108,890,000. Finally, Dimensional Fund Advisors LP boosted its position in Polaris by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock worth $80,663,000 after purchasing an additional 82,779 shares during the period. Institutional investors own 88.06% of the company’s stock.

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.