Polaris (NYSE:PII) Price Target Cut to $69.00 by Analysts at DA Davidson

Polaris (NYSE:PII) had its target price trimmed by DA Davidson from $84.00 to $69.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on PII. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Truist Financial cut their price target on Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird dropped their price objective on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. Royal Bank of Canada dropped their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. Finally, KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Polaris currently has a consensus rating of “Hold” and a consensus price target of $79.60.

Polaris Stock Down 3.1 %

NYSE:PII opened at $55.47 on Friday. The stock’s fifty day moving average price is $61.91 and its two-hundred day moving average price is $73.55. Polaris has a 52-week low of $52.77 and a 52-week high of $100.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 4.84 and a beta of 1.53.

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

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

Hedge Funds Weigh In On Polaris

A number of large investors have recently added to or reduced their stakes in PII. RWWM Inc. grew its holdings in shares of Polaris by 192.3% in the 2nd quarter. RWWM Inc. now owns 272,452 shares of the company’s stock valued at $21,334,000 after acquiring an additional 179,244 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Polaris by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after acquiring an additional 171,366 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Polaris in the 3rd quarter valued at about $12,670,000. Weiss Asset Management LP acquired a new stake in Polaris in the 3rd quarter valued at about $10,844,000. Finally, Dimensional Fund Advisors LP lifted its stake in Polaris by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock valued at $76,994,000 after purchasing an additional 96,194 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

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.