Robert W. Baird Downgrades Polaris (NYSE:PII) to Neutral

Robert W. Baird lowered shares of Polaris (NYSE:PII) from an outperform rating to a neutral rating in a research report released on Friday, MarketBeat.com reports. They currently have $40.00 price objective on the stock, down from their prior price objective of $56.00.

Several other research analysts also recently issued reports on PII. UBS Group dropped their price objective 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. Citigroup lowered Polaris from a “neutral” rating to a “sell” rating and lowered their price target for the company from $49.00 to $33.00 in a research note on Thursday, March 20th. Truist Financial reduced their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. DA Davidson lowered their price objective on Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $54.00 target price on shares of Polaris in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.50.

Polaris Stock Performance

PII opened at $36.67 on Friday. 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 stock’s 50 day moving average price is $44.41 and its two-hundred day moving average price is $59.71. The firm has a market capitalization of $2.06 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. Polaris has a 12-month low of $33.61 and a 12-month high of $100.00.

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, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, equities analysts forecast that Polaris will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is currently 136.73%.

Institutional Investors Weigh In On Polaris

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