Polaris (NYSE:PII) Trading Down 7.4% Following Analyst Downgrade

Polaris Inc. (NYSE:PII)’s share price fell 7.4% on Monday 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 $43.93 and last traded at $44.19. 581,547 shares changed hands during trading, a decline of 64% from the average session volume of 1,634,942 shares. The stock had previously closed at $47.70.

PII has been the topic of a number of other research reports. BMO Capital Markets lowered their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 29th. DA Davidson lowered their price target on shares of Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Roth Mkm decreased their target price 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. Finally, Morgan Stanley restated an “equal weight” rating and set a $60.00 price target (down previously from $81.00) on shares of Polaris in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.17.

Hedge Funds Weigh In On Polaris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Polaris by 45.3% in the 4th quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after buying an additional 241,926 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Polaris in the fourth quarter valued at $1,091,000. Eubel Brady & Suttman Asset Management Inc. boosted its holdings in Polaris by 34.8% in the fourth quarter. Eubel Brady & Suttman Asset Management Inc. now owns 265,517 shares of the company’s stock valued at $15,299,000 after purchasing an additional 68,537 shares during the period. Dahring Cusmano LLC acquired a new position in Polaris during the 4th quarter worth $417,000. Finally, Alberta Investment Management Corp increased its holdings in Polaris by 122.5% during the 4th quarter. Alberta Investment Management Corp now owns 28,040 shares of the company’s stock worth $1,616,000 after purchasing an additional 15,440 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Polaris Stock Up 4.7 %

The business has a 50-day simple moving average of $58.04 and a 200-day simple moving average of $71.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 14.51 and a beta of 1.50.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share 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%. On average, equities analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.86%. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is presently 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.