Polaris (NYSE:PII) Stock Price Down 3.1% Following Analyst Downgrade

Polaris Inc. (NYSE:PII) shares dropped 3.1% during mid-day trading on Monday after Truist Financial lowered their price target on the stock from $55.00 to $30.00. Truist Financial currently has a hold rating on the stock. Polaris traded as low as $33.01 and last traded at $33.17. Approximately 165,902 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,057,412 shares. The stock had previously closed at $34.24.

Several other equities analysts have also commented on the stock. UBS Group reduced their target price on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Bank of America decreased their price objective on Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Roth Mkm reduced their price target on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Finally, Robert W. Baird downgraded Polaris from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $40.00 in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP boosted its holdings in shares of Polaris by 74.0% during the 4th quarter. Quantbot Technologies LP now owns 35,944 shares of the company’s stock valued at $2,071,000 after buying an additional 15,283 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Polaris by 14.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company’s stock worth $6,701,000 after acquiring an additional 14,790 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Polaris during the fourth quarter worth about $21,776,000. State of Alaska Department of Revenue grew its holdings in Polaris by 371.7% in the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock worth $1,669,000 after purchasing an additional 22,835 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Polaris during the fourth quarter valued at approximately $611,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Stock Down 3.2 %

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’s fifty day moving average price is $41.87 and its 200-day moving average price is $56.90. The stock has a market capitalization of $1.85 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32.

Polaris (NYSE:PII) last announced its quarterly earnings data 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%. Analysts forecast that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.67 per share. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 8.14%. Polaris’s dividend payout ratio is presently 136.73%.

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.