Polaris (NYSE:PII) Sets New 1-Year Low After Analyst Downgrade

Polaris Inc. (NYSE:PII)’s stock price hit a new 52-week low on Thursday after Citigroup lowered their price target on the stock from $73.00 to $57.00. Citigroup currently has a neutral rating on the stock. Polaris traded as low as $52.62 and last traded at $53.00, with a volume of 75801 shares traded. The stock had previously closed at $53.76.

Several other equities research analysts also recently weighed in on the stock. Truist Financial reduced their target price on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley reissued an “equal weight” rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research report on Tuesday. StockNews.com lowered shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada cut their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.45.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in shares of Polaris by 0.9% during the second quarter. Envestnet Asset Management Inc. now owns 91,612 shares of the company’s stock worth $7,174,000 after purchasing an additional 831 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Polaris by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock valued at $76,994,000 after acquiring an additional 96,194 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Polaris by 67.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,657 shares of the company’s stock valued at $365,000 after acquiring an additional 1,881 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Polaris in the second quarter valued at approximately $1,211,000. Finally, Sei Investments Co. raised its holdings in Polaris by 31.0% in the second quarter. Sei Investments Co. now owns 3,601 shares of the company’s stock valued at $282,000 after acquiring an additional 853 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Trading Up 0.9 %

The company’s fifty day moving average is $60.88 and its two-hundred day moving average is $73.01. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 6.02 and a beta of 1.53. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last issued its earnings results 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). The firm 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 firm’s revenue was down 23.4% compared to the same quarter last year. During the same period last year, the business earned $2.71 EPS. On average, research analysts predict that Polaris Inc. will post 3.22 EPS for the current fiscal year.

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.