Citigroup Lowers Polaris (NYSE:PII) Price Target to $96.00

Polaris (NYSE:PII) had its target price cut by investment analysts at Citigroup from $100.00 to $96.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 15.16% from the stock’s previous close.

PII has been the subject of a number of other research reports. Robert W. Baird cut their target price on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada reduced their target price on Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Truist Financial lowered their target price on Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a report on Wednesday. Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective on the stock. Finally, Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Polaris currently has a consensus rating of “Hold” and a consensus target price of $100.27.

Polaris Price Performance

Shares of NYSE:PII opened at $83.36 on Wednesday. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 2.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.46. The business’s 50 day simple moving average is $92.75 and its 200-day simple moving average is $91.57. Polaris has a 12 month low of $82.00 and a 12 month high of $138.49.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, April 23rd. The company reported $0.23 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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $2.05 earnings per share. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts forecast that Polaris will post 7.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polaris

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Confluence Investment Management LLC acquired a new position in shares of Polaris in the 1st quarter valued at $108,890,000. Verity & Verity LLC purchased a new position in shares of Polaris in the 1st quarter worth $37,000. Qube Research & Technologies Ltd boosted its holdings in Polaris by 276.5% in the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after acquiring an additional 266,887 shares during the last quarter. AQR Capital Management LLC grew its position in Polaris by 151.9% during the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock valued at $44,168,000 after acquiring an additional 255,777 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Polaris by 8.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after acquiring an additional 202,794 shares during the last quarter. Institutional investors and hedge funds 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.