Polaris (NYSE:PII) Shares Up 7.6%

Shares of Polaris Inc. (NYSE:PII) were up 7.6% during trading on Thursday . The company traded as high as $78.51 and last traded at $78.45. Approximately 320,304 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 775,608 shares. The stock had previously closed at $72.90.

Wall Street Analysts Forecast Growth

PII has been the topic of several research reports. Citigroup lowered their price objective on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird lowered their price target on Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial dropped their price target on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Bank of America decreased their price objective on Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada cut their target price on Polaris from $97.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.18.

Polaris Trading Up 8.7 %

The company has a market capitalization of $4.48 billion, a PE ratio of 11.50, a P/E/G ratio of 7.01 and a beta of 1.53. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.42. The firm’s 50 day moving average is $79.46 and its 200 day moving average is $86.92.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.20%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 EPS. As a group, equities analysts predict that Polaris Inc. will post 3.76 EPS for the current year.

Institutional Investors Weigh In On Polaris

Large investors have recently modified their holdings of the stock. Confluence Investment Management LLC bought a new stake in Polaris during the 1st quarter valued at approximately $108,890,000. Verity & Verity LLC bought a new stake in shares of Polaris during the first quarter valued at approximately $37,000. LSV Asset Management lifted its position in Polaris by 190.3% during the fourth quarter. LSV Asset Management now owns 261,872 shares of the company’s stock valued at $24,818,000 after buying an additional 171,672 shares during the period. Capital World Investors grew its holdings in Polaris by 2.4% in the fourth quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after purchasing an additional 160,918 shares during the period. Finally, Norges Bank bought a new stake in Polaris in the fourth quarter worth $12,168,000. Institutional investors own 88.06% of the company’s stock.

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.