Robert W. Baird Cuts Polaris (NYSE:PII) Price Target to $100.00

Polaris (NYSE:PII) had its target price dropped by investment analysts at Robert W. Baird from $110.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 19.96% from the company’s current price.

Several other research firms have also commented on PII. Truist Financial decreased their price objective on shares of Polaris from $100.00 to $96.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. Morgan Stanley upgraded Polaris from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price on the stock. KeyCorp decreased their price objective on Polaris from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Finally, Longbow Research raised Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Polaris has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Trading Down 2.2 %

Shares of Polaris stock opened at $83.36 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The stock has a 50 day moving average price of $92.75 and a two-hundred day moving average price of $91.57. The stock has a market capitalization of $4.71 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating 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 firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, equities analysts anticipate that Polaris will post 7.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polaris

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Polaris by 2.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,172 shares of the company’s stock valued at $1,419,000 after purchasing an additional 381 shares during the period. Zhang Financial LLC bought a new stake in shares of Polaris in the 1st quarter worth approximately $200,000. Verity & Verity LLC purchased a new position in shares of Polaris during the first quarter valued at approximately $37,000. Louisiana State Employees Retirement System increased its stake in shares of Polaris by 2.7% during the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock valued at $1,532,000 after buying an additional 400 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Polaris by 7.4% during the first quarter. Amalgamated Bank now owns 36,431 shares of the company’s stock valued at $3,647,000 after acquiring an additional 2,505 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

About Polaris

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.