Polaris (NYSE:PII) Rating Lowered to “Sector Weight” at KeyCorp

Polaris (NYSE:PII) was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Robert W. Baird lowered their price objective 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. Royal Bank of Canada cut their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a report on Monday, December 30th. DA Davidson cut their price target on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial decreased their price objective on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Polaris currently has a consensus rating of “Hold” and an average price target of $84.00.

Polaris Stock Performance

Polaris stock opened at $55.54 on Wednesday. The stock has a fifty day moving average price of $63.68 and a 200 day moving average price of $74.51. Polaris has a 52 week low of $55.19 and a 52 week high of $100.91. The firm has a market capitalization of $3.10 billion, a P/E ratio of 15.51, a PEG ratio of 6.59 and a beta of 1.53. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28.

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

Institutional Investors Weigh In On Polaris

A number of institutional investors have recently modified their holdings of PII. Nordea Investment Management AB grew its stake in 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 purchasing an additional 183 shares in the last quarter. GAMMA Investing LLC raised its stake in Polaris by 232.6% during the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after buying an additional 677 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Polaris by 12.2% during the 3rd quarter. Franklin Resources Inc. now owns 169,004 shares of the company’s stock worth $13,745,000 after buying an additional 18,418 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Polaris in the 3rd quarter worth approximately $535,000. Finally, Toronto Dominion Bank increased its holdings in shares of Polaris by 2.9% in the 3rd quarter. Toronto Dominion Bank now owns 16,484 shares of the company’s stock valued at $1,372,000 after acquiring an additional 465 shares during the last quarter. 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.