Polaris (NYSE:PII) Sets New 1-Year Low Following Analyst Downgrade

Polaris Inc. (NYSE:PII) shares reached a new 52-week low during mid-day trading on Tuesday after UBS Group lowered their price target on the stock from $67.00 to $48.00. UBS Group currently has a neutral rating on the stock. Polaris traded as low as $43.20 and last traded at $43.56, with a volume of 6337073 shares trading hands. The stock had previously closed at $47.70.

Other analysts have also recently issued reports about the stock. KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Robert W. Baird dropped their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. Morgan Stanley reissued an “equal weight” rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Finally, Roth Mkm dropped their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.17.

Institutional Investors Weigh In On Polaris

Several hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI grew its stake in shares of Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after acquiring an additional 183 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Polaris by 0.6% in the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares during the last quarter. Quarry LP grew its stake in shares of Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after acquiring an additional 253 shares during the last quarter. Claro Advisors LLC boosted its stake in Polaris by 3.3% during the third quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock worth $656,000 after buying an additional 254 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Polaris by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The stock’s 50 day simple moving average is $58.48 and its two-hundred day simple moving average is $71.43. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 14.51 and a beta of 1.50.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 6.15%. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is currently 134.69%.

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.