BMO Capital Markets Lowers Polaris (NYSE:PII) Price Target to $75.00

Polaris (NYSE:PII) had its price objective lowered by BMO Capital Markets from $90.00 to $75.00 in a research note released on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

PII has been the subject of a number of other reports. Bank of America started coverage on shares of Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price objective for the company. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price target on the stock in a report on Monday, April 8th. Truist Financial dropped their price objective on Polaris from $92.00 to $82.00 and set a hold rating for the company in a research note on Monday, July 8th. StockNews.com cut Polaris from a buy rating to a hold rating in a report on Thursday, May 2nd. Finally, DA Davidson cut their price objective on shares of Polaris from $80.00 to $75.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $89.18.

Polaris Trading Up 4.7 %

NYSE:PII opened at $82.71 on Wednesday. Polaris has a one year low of $71.90 and a one year high of $138.49. The business has a fifty day moving average price of $79.33 and a 200-day moving average price of $86.79. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 7.00 and a beta of 1.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.42.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. Sell-side analysts forecast that Polaris will post 3.8 EPS for the current year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.64 annualized dividend and a yield of 3.19%. Polaris’s dividend payout ratio (DPR) is currently 38.71%.

Institutional Trading of Polaris

A number of large investors have recently made changes to their positions in PII. Cambridge Investment Research Advisors Inc. grew its position in Polaris by 8.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the company’s stock worth $1,203,000 after acquiring an additional 1,186 shares in the last quarter. JLB & Associates Inc. lifted its stake in shares of Polaris by 0.5% in the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after purchasing an additional 120 shares during the last quarter. Hunter Perkins Capital Management LLC boosted its holdings in shares of Polaris by 4.2% in the 2nd quarter. Hunter Perkins Capital Management LLC now owns 64,991 shares of the company’s stock worth $5,089,000 after purchasing an additional 2,610 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Polaris during the 2nd quarter valued at approximately $205,000. Finally, Mitchell & Pahl Private Wealth LLC raised its holdings in Polaris by 3.5% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 9,016 shares of the company’s stock valued at $706,000 after buying an additional 301 shares during the period. 88.06% of the stock is currently owned by institutional investors.

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.