Polaris (NYSE:PII) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Polaris (NYSE:PII) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other equities research analysts also recently weighed in on PII. Truist Financial dropped their price objective on Polaris from $96.00 to $92.00 and set a hold rating on the stock in a research report on Wednesday. Citigroup dropped their price objective on Polaris from $100.00 to $96.00 and set a neutral rating on the stock in a research report on Wednesday. Bank of America started coverage on Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price objective on the stock. DA Davidson reaffirmed a neutral rating and set a $80.00 price objective on shares of Polaris in a research report on Tuesday, March 5th. Finally, KeyCorp dropped their price objective on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research report on Friday, January 12th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Polaris currently has a consensus rating of Hold and an average target price of $100.27.

Polaris Price Performance

PII opened at $85.21 on Wednesday. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. 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 business’s fifty day simple moving average is $92.86 and its 200-day simple moving average is $91.61. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 2.35 and a beta of 1.60.

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

Polaris Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PII. Creekmur Asset Management LLC purchased a new position in shares of Polaris in the fourth quarter worth about $27,000. BKM Wealth Management LLC purchased a new position in shares of Polaris in the fourth quarter worth about $31,000. Verity & Verity LLC purchased a new position in shares of Polaris in the first quarter worth about $37,000. First United Bank & Trust purchased a new position in shares of Polaris in the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC raised its stake in shares of Polaris by 536.5% in the third quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock worth $42,000 after purchasing an additional 338 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.