Polaris (NYSE:PII) Earns “Neutral” Rating from Longbow Research

Longbow Research reiterated their neutral rating on shares of Polaris (NYSE:PII) in a research note published on Wednesday, MarketBeat reports.

Other equities research analysts have also recently issued reports about the stock. DA Davidson cut their price target on shares of Polaris from $80.00 to $75.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Truist Financial dropped their target price on Polaris from $92.00 to $82.00 and set a hold rating on the stock in a report on Monday, July 8th. Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target for the company. Citigroup decreased 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. Finally, BMO Capital Markets cut their price objective on Polaris from $90.00 to $75.00 and set a market perform rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Polaris presently has an average rating of Hold and an average price target of $89.18.

Polaris Stock Performance

PII opened at $82.71 on Wednesday. The company has a market capitalization of $4.67 billion, a price-to-earnings 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 price is $79.33 and its two-hundred day moving average price is $86.79. 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 current ratio of 1.42 and a quick ratio of 0.42.

Polaris (NYSE:PII) last announced 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 firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 EPS. Equities analysts expect that Polaris will post 3.8 EPS for the current fiscal year.

Polaris Announces Dividend

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

Institutional Trading of Polaris

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Confluence Investment Management LLC acquired a new position in Polaris in the 1st quarter worth about $108,890,000. Verity & Verity LLC bought a new stake in shares of Polaris in the first quarter worth $37,000. LSV Asset Management increased its holdings in Polaris by 190.3% in the fourth quarter. LSV Asset Management now owns 261,872 shares of the company’s stock valued at $24,818,000 after purchasing an additional 171,672 shares during the period. Capital World Investors increased 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 valued at $640,447,000 after purchasing an additional 160,918 shares during the period. Finally, Norges Bank bought a new position in Polaris during the 4th quarter worth $12,168,000. Institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

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.