Polaris (NYSE:PII) Given New $75.00 Price Target at DA Davidson

Polaris (NYSE:PII) had its price objective reduced by DA Davidson from $80.00 to $75.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Polaris from a buy rating to a hold rating in a research note on Thursday, May 2nd. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price target for the company in a research note on Monday, April 8th. Royal Bank of Canada lowered their price target on Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a research note on Wednesday, April 24th. Truist Financial decreased their price objective on Polaris from $96.00 to $92.00 and set a hold rating for the company in a research report on Wednesday, April 24th. Finally, Bank of America started coverage on Polaris in a research report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Polaris currently has a consensus rating of Hold and an average target price of $99.82.

Polaris Stock Performance

Polaris stock opened at $75.96 on Tuesday. The stock has a 50-day simple moving average of $81.54 and a 200 day simple moving average of $88.50. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. Polaris has a 12-month low of $74.25 and a 12-month high of $138.49. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 2.70 and a beta of 1.53.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. On average, research analysts anticipate that Polaris will post 8.01 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Hedge Funds Weigh In On Polaris

Large investors have recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in shares of Polaris by 15.4% in the 3rd quarter. LPL Financial LLC now owns 62,372 shares of the company’s stock valued at $6,495,000 after buying an additional 8,307 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Polaris by 1.4% in the 3rd quarter. Northern Trust Corp now owns 406,947 shares of the company’s stock valued at $42,379,000 after buying an additional 5,493 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Polaris in the 3rd quarter valued at approximately $342,000. Treasurer of the State of North Carolina boosted its holdings in shares of Polaris by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock valued at $2,466,000 after buying an additional 120 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Polaris by 87.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,803 shares of the company’s stock valued at $813,000 after acquiring an additional 3,631 shares during the period. Institutional investors and hedge funds 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.