Polaris (NYSE:PII) Given New $75.00 Price Target at DA Davidson

Polaris (NYSE:PII) had its price target cut by DA Davidson from $80.00 to $75.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock. DA Davidson also issued estimates for Polaris’ Q2 2024 earnings at $2.42 EPS.

Other equities analysts also recently issued reports about the stock. Bank of America began coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target on the stock. Royal Bank of Canada cut their price target on shares of Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a research note on Wednesday, April 24th. Robert W. Baird cut their price objective on shares of Polaris from $110.00 to $100.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Citigroup decreased their price objective on shares of Polaris from $100.00 to $96.00 and set a neutral rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com downgraded shares of Polaris from a buy rating to a hold rating in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $99.36.

Polaris Stock Performance

Shares of PII opened at $74.24 on Tuesday. The firm has a market capitalization of $4.20 billion, a P/E ratio of 10.89, a P/E/G ratio of 2.61 and a beta of 1.53. Polaris has a 52 week low of $73.34 and a 52 week high of $138.49. The stock has a 50 day moving average price of $81.01 and a two-hundred day moving average price of $88.20. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.47.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm posted $2.05 EPS. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities analysts forecast that Polaris will post 8.01 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.66 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.56%. Polaris’s dividend payout ratio is presently 38.71%.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently made changes to their positions in the company. New England Capital Financial Advisors LLC bought a new stake in shares of Polaris in the 1st quarter worth $25,000. Creekmur Asset Management LLC purchased a new stake in shares of Polaris during the fourth quarter valued at $27,000. BKM Wealth Management LLC bought a new stake in Polaris in the 4th quarter worth about $31,000. Verity & Verity LLC purchased a new position in Polaris in the 1st quarter worth about $37,000. Finally, Bessemer Group Inc. lifted its stake in Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after acquiring an additional 235 shares during the period. 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.