Polaris (NYSE:PII) Price Target Cut to $60.00 by Analysts at Truist Financial

Polaris (NYSE:PII) had its price target lowered by Truist Financial from $76.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other brokerages have also recently weighed in on PII. KeyCorp reduced their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on shares of 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 shares of Polaris from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. DA Davidson cut their price target on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird lowered their price objective on Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Polaris Stock Performance

NYSE:PII opened at $55.54 on Tuesday. Polaris has a 52 week low of $55.19 and a 52 week high of $100.91. The company has a fifty day simple moving average of $63.68 and a two-hundred day simple moving average of $74.51. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company 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 released its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.71 earnings per share. As a group, equities analysts anticipate that Polaris will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Polaris by 0.6% during the fourth quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares during the last quarter. GAMMA Investing LLC boosted its stake in Polaris by 232.6% during the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after purchasing an additional 677 shares during the period. Franklin Resources Inc. grew its position 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 purchasing an additional 18,418 shares during the last quarter. Virtu Financial LLC acquired a new position in Polaris in the third quarter valued at $535,000. Finally, Toronto Dominion Bank increased its stake in Polaris by 2.9% in the third quarter. Toronto Dominion Bank now owns 16,484 shares of the company’s stock valued at $1,372,000 after purchasing an additional 465 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.