Polaris (NYSE:PII) Price Target Lowered to $75.00 at BMO Capital Markets

Polaris (NYSE:PII) had its price target lowered by BMO Capital Markets from $90.00 to $75.00 in a research note released on Wednesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other research firms have also recently weighed in on PII. Truist Financial decreased their price objective on 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 raised Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a research report on Monday, April 8th. StockNews.com cut Polaris from a buy rating to a hold rating in a research report on Thursday, May 2nd. Royal Bank of Canada decreased their price objective on Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a research report on Wednesday, April 24th. Finally, Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $89.18.

Polaris Price Performance

PII stock opened at $82.71 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 firm has a market capitalization of $4.61 billion, a P/E ratio of 12.13, a P/E/G ratio of 7.00 and a beta of 1.53. The business’s 50-day moving average is $79.36 and its two-hundred day moving average is $86.86. Polaris has a 1 year low of $71.90 and a 1 year high of $138.49.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. Analysts anticipate that Polaris will post 3.8 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a $0.66 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.19%. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Trading of Polaris

Several hedge funds have recently modified their holdings of PII. Confluence Investment Management LLC acquired a new position in Polaris during the first quarter worth $108,890,000. Verity & Verity LLC acquired a new position in Polaris during the first quarter worth $37,000. LSV Asset Management raised its holdings in Polaris by 190.3% during the fourth quarter. LSV Asset Management now owns 261,872 shares of the company’s stock worth $24,818,000 after purchasing an additional 171,672 shares during the last quarter. Capital World Investors raised its holdings in 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 purchasing an additional 160,918 shares during the last quarter. Finally, Norges Bank acquired a new position in Polaris during the fourth quarter worth $12,168,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.