Polaris (NYSE:PII) Sets New 12-Month Low Following Analyst Downgrade

Polaris Inc. (NYSE:PII) shares hit a new 52-week low during trading on Wednesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $55.50 and last traded at $56.07, with a volume of 91350 shares. The stock had previously closed at $58.11.

A number of other research analysts have also recently commented on the stock. KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Royal Bank of Canada cut their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. Truist Financial cut their price target on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday. DA Davidson cut their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Robert W. Baird cut their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Polaris presently has a consensus rating of “Hold” and a consensus price target of $84.00.

Institutional Trading of Polaris

Institutional investors have recently bought and sold shares of the business. Kiltearn Partners LLP grew its holdings in Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after acquiring an additional 92,300 shares during the period. FMR LLC grew its holdings in Polaris by 22.0% during the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock worth $11,126,000 after acquiring an additional 24,103 shares during the period. Quantinno Capital Management LP grew its holdings in Polaris by 545.1% during the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock worth $2,231,000 after acquiring an additional 22,648 shares during the period. Victory Capital Management Inc. grew its holdings in Polaris by 167.1% during the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after acquiring an additional 27,375 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Polaris by 8,867.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after acquiring an additional 63,225 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Stock Down 4.4 %

The business’s fifty day simple moving average is $63.68 and its 200 day simple moving average is $74.51. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53.

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

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is 73.74%.

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.