Polaris (NYSE:PII) PT Lowered to $85.00

Polaris (NYSE:PII) had its target price lowered by equities research analysts at Bank of America from $86.00 to $85.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 7.59% from the company’s previous close.

PII has been the subject of several other research reports. BMO Capital Markets decreased their price target on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday. Truist Financial reduced their target price on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Citigroup lowered their target price on shares of Polaris from $96.00 to $86.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Royal Bank of Canada cut their price target on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com cut shares of Polaris from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price of $89.18.

Polaris Stock Up 8.4 %

Shares of NYSE PII opened at $79.00 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.42. The company has a 50-day moving average price of $79.36 and a 200-day moving average price of $86.86. The stock has a market capitalization of $4.40 billion, a P/E ratio of 11.58, a P/E/G 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.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). The business had revenue of $1.96 billion during 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 26.38%. Polaris’s revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 EPS. On average, equities research analysts forecast that Polaris will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Polaris

Several institutional investors have recently bought and sold shares of PII. New England Capital Financial Advisors LLC purchased a new stake in Polaris in the first quarter worth $25,000. Creekmur Asset Management LLC bought a new position in shares of Polaris during the 4th quarter worth $27,000. Verity & Verity LLC purchased a new stake in Polaris in the 1st quarter worth about $37,000. Bessemer Group Inc. raised its stake in Polaris by 174.1% in the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after acquiring an additional 235 shares during the period. Finally, First United Bank & Trust purchased a new stake in Polaris during the fourth quarter valued at about $40,000. Hedge funds and other 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.