Citigroup Cuts Polaris (NYSE:PII) Price Target to $53.00

Polaris (NYSE:PII) had its target price reduced by Citigroup from $57.00 to $53.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 target price (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Royal Bank of Canada dropped their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird decreased their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Finally, StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.82.

Polaris Stock Performance

PII opened at $47.68 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 1.27. Polaris has a 12-month low of $47.53 and a 12-month high of $100.91. The firm has a 50 day moving average of $59.03 and a two-hundred day moving average of $71.91. The firm has a market capitalization of $2.66 billion, a PE ratio of 24.33, a P/E/G ratio of 14.41 and a beta of 1.53.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, analysts anticipate that Polaris will post 1.14 EPS for the current year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.67 dividend. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 5.62%. The ex-dividend date is Monday, March 3rd. Polaris’s dividend payout ratio is currently 134.69%.

Institutional Investors Weigh In On Polaris

Several institutional investors and hedge funds have recently added to or reduced their stakes in PII. Venturi Wealth Management LLC raised its position in shares of Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after buying an additional 294 shares during the last quarter. Blue Trust Inc. grew its stake in Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares in the last quarter. Quarry LP raised its holdings in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares during the last quarter. GAMMA Investing LLC lifted its stake in Polaris by 232.6% in the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after purchasing an additional 677 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Polaris by 19.9% during the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds 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.