Polaris (NYSE:PII) Stock Price Target Cut by Royal Bank Of Canada

Polaris (NYSE:PII – Get Free Report) had its price target lowered by research analysts at Royal Bank Of Canada from $75.00 to $72.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s target price indicates a potential upside of 26.44% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. Roth Capital reissued a “neutral” rating on shares of Polaris in a report on Wednesday, July 29th. Robert W. Baird dropped their price target on shares of Polaris from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Wells Fargo & Company reduced their price objective on shares of Polaris from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Polaris in a research note on Tuesday. Finally, Bank of America reissued a “neutral” rating on shares of Polaris in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Polaris has a consensus rating of “Hold” and a consensus target price of $62.67.

Read Our Latest Stock Analysis on PII

Polaris Stock Down 1.9%

Shares of NYSE:PII traded down $1.11 during midday trading on Wednesday, hitting $56.95. 195,655 shares of the stock traded hands, compared to its average volume of 998,293. The stock has a market capitalization of $3.24 billion, a PE ratio of -12.28 and a beta of 1.32. Polaris has a one year low of $47.14 and a one year high of $77.98. The business’s 50 day moving average is $56.95 and its two-hundred day moving average is $62.79.

Polaris (NYSE:PII – Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.49. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company posted ($0.28) EPS. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts forecast that Polaris will post 3.22 earnings per share for the current year.

Institutional Trading of Polaris

Several hedge funds and other institutional investors have recently made changes to their positions in PII. Convergence Investment Partners LLC boosted its position in shares of Polaris by 1.1% in the 1st quarter. Convergence Investment Partners LLC now owns 15,798 shares of the company’s stock worth $861,000 after purchasing an additional 169 shares in the last quarter. Signaturefd LLC increased its position in Polaris by 3.9% during the 3rd quarter. Signaturefd LLC now owns 4,877 shares of the company’s stock valued at $254,000 after buying an additional 185 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Polaris by 1.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,726 shares of the company’s stock valued at $678,000 after buying an additional 194 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Polaris by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,211 shares of the company’s stock valued at $767,000 after buying an additional 273 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Polaris by 8.5% in the third quarter. Farther Finance Advisors LLC now owns 3,619 shares of the company’s stock valued at $189,000 after buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Key Stories Impacting Polaris

Here are the key news stories impacting Polaris this week:

About Polaris

(Get Free Report)

Polaris Inc is a manufacturer of powersports products headquartered in Medina, Minnesota. Founded in 1954, the company began as a snowmobile manufacturer and has expanded into a diversified portfolio of off-road vehicles, motorcycles, snowmobiles and boats.

Its off-road vehicle lineup includes utility and recreational models sold under brands such as RANGER, RZR, Sportsman and GENERAL. Polaris also manufactures snowmobiles under the Polaris brand and motorcycles through Indian Motorcycle and Slingshot.

Further Reading

Analyst Recommendations for Polaris (NYSE:PII)

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