Polaris (NYSE:PII) Price Target Cut to $60.00 by Analysts at Truist Financial

Polaris (NYSE:PII) had its target price cut by Truist Financial from $76.00 to $60.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also commented on PII. Royal Bank of Canada cut their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. DA Davidson decreased their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. KeyCorp cut their price objective on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird decreased their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. Finally, StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.00.

Polaris Price Performance

Shares of PII stock opened at $58.07 on Tuesday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 6.59 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. The stock’s fifty day simple moving average is $64.29 and its 200 day simple moving average is $74.78. Polaris has a one year low of $55.55 and a one year high of $100.91.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. On average, analysts expect that Polaris will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.55%. The ex-dividend date was Monday, December 2nd. Polaris’s dividend payout ratio is currently 73.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in Polaris by 3.2% in the 3rd 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. Confluence Investment Management LLC lifted its holdings in Polaris by 0.7% during the 3rd quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock valued at $86,516,000 after buying an additional 6,724 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Polaris by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock valued at $76,994,000 after purchasing an additional 96,194 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Polaris by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock worth $46,232,000 after buying an additional 171,366 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Polaris by 311.6% during the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock valued at $30,307,000 after purchasing an additional 292,992 shares during the period. Hedge funds and other 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.