Robert W. Baird Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price target decreased by stock analysts at Robert W. Baird from $64.00 to $56.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 31.58% from the company’s current price.

Several other brokerages have also recently weighed in on PII. UBS Group reduced their price target on Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. DA Davidson reduced their price target on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Citigroup reduced their target price on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Truist Financial reduced their target price on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Finally, BMO Capital Markets reduced their target price 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.50.

Polaris Price Performance

Shares of NYSE PII opened at $42.56 on Monday. The stock has a market cap of $2.39 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. Polaris has a fifty-two week low of $39.79 and a fifty-two week high of $100.91. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The stock has a fifty day moving average of $48.03 and a 200-day moving average of $63.37.

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

Hedge Funds Weigh In On Polaris

A number of hedge funds and other institutional investors have recently modified their holdings of PII. RWWM Inc. boosted its holdings in shares of Polaris by 377.4% in the 4th quarter. RWWM Inc. now owns 889,698 shares of the company’s stock worth $51,264,000 after purchasing an additional 703,322 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Polaris by 132.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock worth $51,909,000 after purchasing an additional 513,542 shares in the last quarter. Norges Bank purchased a new position in shares of Polaris in the 4th quarter worth about $24,659,000. Capital World Investors boosted its holdings in shares of Polaris by 6.7% in the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock worth $354,725,000 after purchasing an additional 388,050 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Polaris in the 4th quarter worth about $21,776,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.