Polaris (NYSE:PII) Trading Up 4.9% – Still a Buy?

Shares of Polaris Inc. (NYSE:PII) traded up 4.9% during mid-day trading on Thursday . The stock traded as high as $43.26 and last traded at $43.24. 553,175 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 908,624 shares. The stock had previously closed at $41.23.

Analysts Set New Price Targets

A number of research firms have issued reports on PII. DA Davidson decreased their target price on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Roth Mkm lowered 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. Robert W. Baird reduced their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. Truist Financial dropped their price target on Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Finally, BMO Capital Markets reduced their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $66.17.

Polaris Stock Up 9.0 %

The stock has a 50-day moving average of $50.71 and a 200 day moving average of $66.21. The company has a market cap of $2.52 billion, a P/E ratio of 22.94, a PEG ratio of 13.95 and a beta of 1.50. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating 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%. Research analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 5.96%. Polaris’s payout ratio is presently 136.73%.

Hedge Funds Weigh In On Polaris

A number of hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in Polaris by 534.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Polaris by 386.5% during the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. Twin Tree Management LP bought a new stake in Polaris in the fourth quarter worth approximately $29,000. Lindbrook Capital LLC boosted its holdings in shares of Polaris by 295.4% during the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after buying an additional 387 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Polaris by 187.4% during 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 period. 88.06% of the stock is currently owned by institutional investors.

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.