Polaris (NYSE:PII) PT Lowered to $79.00

Polaris (NYSE:PII) had its target price lowered by equities researchers at Roth Mkm from $92.00 to $79.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock.

Several other brokerages also recently issued reports on PII. Citigroup lowered their price objective on shares of Polaris from $96.00 to $86.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Truist Financial lowered their price objective on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a research report on Wednesday. Robert W. Baird lowered their price objective on shares of Polaris from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com downgraded shares of Polaris from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Eight 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 presently has an average rating of “Hold” and a consensus price target of $89.18.

Polaris Stock Up 8.4 %

PII opened at $79.00 on Wednesday. The firm has a 50 day moving average price of $79.36 and a 200 day moving average price of $86.86. The company has a market cap of $4.40 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 6.82 and a beta of 1.53. Polaris has a 1 year low of $71.90 and a 1 year high of $138.49. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.42 and a current ratio of 1.42.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share (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 analyst estimates of $2.18 billion. Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the company posted $2.42 EPS. Sell-side analysts expect that Polaris will post 3.6 earnings per share for the current year.

Institutional Trading of Polaris

Hedge funds have recently made changes to their positions in the stock. Chase Investment Counsel Corp bought a new position in Polaris during the fourth quarter worth $852,000. Semanteon Capital Management LP bought a new position in Polaris during the fourth quarter worth $1,270,000. TD Asset Management Inc lifted its stake in Polaris by 8.3% during the fourth quarter. TD Asset Management Inc now owns 140,779 shares of the company’s stock worth $13,342,000 after purchasing an additional 10,770 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Polaris by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,306 shares of the company’s stock worth $33,957,000 after purchasing an additional 10,745 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Polaris by 22.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 59,799 shares of the company’s stock worth $6,616,000 after purchasing an additional 11,009 shares during the last quarter. Institutional investors and hedge funds 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.