Polaris (NYSE:PII) Price Target Cut to $97.00 by Analysts at Royal Bank of Canada

Polaris (NYSE:PII) had its price target dropped by investment analysts at Royal Bank of Canada from $103.00 to $97.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 16.36% from the company’s current price.

Several other equities research analysts have also commented on the company. BMO Capital Markets reduced their price objective on Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. DA Davidson restated a “neutral” rating and issued a $80.00 price objective on shares of Polaris in a research note on Tuesday, March 5th. Morgan Stanley upgraded Polaris from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Bank of America started coverage on Polaris in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, Robert W. Baird reduced their price objective on Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.27.

Polaris Price Performance

NYSE PII opened at $83.36 on Wednesday. The business’s fifty day moving average price is $92.75 and its 200-day moving average price is $91.57. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.50 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. Polaris has a 1-year low of $82.00 and a 1-year high of $138.49.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. On average, equities analysts predict that Polaris will post 7.93 earnings per share for the current year.

Hedge Funds Weigh In On Polaris

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors increased its position in shares of Polaris by 2.4% during the fourth quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after acquiring an additional 160,918 shares during the period. Vanguard Group Inc. increased its position in shares of Polaris by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock worth $550,375,000 after acquiring an additional 48,179 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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 period. Confluence Investment Management LLC purchased a new position in Polaris during the first quarter valued at approximately $108,890,000. Finally, Dimensional Fund Advisors LP increased its holdings in Polaris by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock valued at $80,663,000 after buying an additional 82,779 shares during the period. 88.06% of the stock is 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.