Polaris (NYSE:PII) Hits New 12-Month Low – Here’s What Happened

Shares of Polaris Inc. (NYSE:PII) hit a new 52-week low during trading on Thursday . The stock traded as low as $37.14 and last traded at $37.25, with a volume of 680447 shares traded. The stock had previously closed at $42.61.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets lowered their price target on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, January 29th. Roth Mkm reduced their price objective on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. DA Davidson decreased their target price on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Citigroup lowered shares of Polaris from a “neutral” rating to a “sell” rating and cut their price target for the company from $49.00 to $33.00 in a report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.83.

Polaris Stock Performance

The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 13.95 and a beta of 1.54. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average of $45.12 and a 200 day moving average of $60.54.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. As a group, equities research analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.67 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 annualized dividend and a dividend yield of 7.40%. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is presently 136.73%.

Hedge Funds Weigh In On Polaris

Large investors have recently modified their holdings of the stock. Quarry LP grew its position in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after acquiring an additional 253 shares in the last quarter. Twin Tree Management LP bought a new stake in Polaris during the fourth quarter valued at $29,000. Larson Financial Group LLC lifted its position in shares of Polaris by 386.5% in the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 402 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Polaris by 295.4% in the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock valued at $30,000 after buying an additional 387 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after acquiring an additional 677 shares during the last quarter. Institutional investors 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.