Polaris (NYSE:PII) Shares Gap Down – Time to Sell?

Polaris Inc. (NYSE:PII) gapped down prior to trading on Tuesday . The stock had previously closed at $56.52, but opened at $54.30. Polaris shares last traded at $51.87, with a volume of 645,484 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Citigroup decreased their price target on Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday. Roth Mkm cut their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. DA Davidson decreased their target price on shares of Polaris from $84.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Truist Financial cut their price target on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.64.

Polaris Price Performance

The business’s 50-day simple moving average is $59.80 and its two-hundred day simple moving average is $72.30. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 6.05 and a beta of 1.53. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Research analysts expect that Polaris Inc. will post 3.22 earnings per share for the current year.

Hedge Funds Weigh In On Polaris

Several large investors have recently modified their holdings of PII. Charles Schwab Investment Management Inc. grew its stake in shares of Polaris by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock worth $46,232,000 after purchasing an additional 171,366 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Polaris during the 3rd quarter worth about $12,670,000. Weiss Asset Management LP bought a new stake in shares of Polaris in the 3rd quarter valued at about $10,844,000. Kiltearn Partners LLP increased its stake in shares of Polaris by 147.9% in the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after buying an additional 92,300 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Polaris by 3.2% during the third quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after acquiring an additional 69,844 shares during the last quarter. 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.