Polaris (NYSE:PII) PT Lowered to $90.00

Polaris (NYSE:PII) had its target price decreased by KeyCorp from $105.00 to $90.00 in a research report report published on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other brokerages have also commented on PII. Royal Bank of Canada dropped their price target on shares of Polaris from $103.00 to $97.00 and set a sector perform rating on the stock in a research note on Wednesday, April 24th. 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 target on the stock. BMO Capital Markets dropped their price target on shares of Polaris from $90.00 to $75.00 and set a market perform rating on the stock in a research note on Wednesday. Robert W. Baird dropped their price target on shares of Polaris from $100.00 to $95.00 and set an outperform rating on the stock in a research note on Wednesday, July 3rd. Finally, Truist Financial dropped their price target on shares of Polaris from $92.00 to $82.00 and set a hold rating on the stock in a research note on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $89.18.

Polaris Stock Up 4.7 %

Shares of NYSE:PII opened at $82.71 on Wednesday. The firm’s 50 day moving average price is $79.33 and its 200 day moving average price is $86.79. The stock has a market cap 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. Polaris has a fifty-two week low of $71.90 and a fifty-two week high of $138.49. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. As a group, equities research analysts predict that Polaris will post 3.8 earnings per share for the current fiscal year.

Polaris Dividend Announcement

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

Hedge Funds Weigh In On Polaris

Hedge funds and other institutional investors have recently bought and sold shares of the company. New England Capital Financial Advisors LLC purchased a new position in Polaris in the 1st quarter valued at $25,000. Creekmur Asset Management LLC acquired a new stake in Polaris in the fourth quarter valued at $27,000. Verity & Verity LLC acquired a new stake in Polaris in the first quarter valued at $37,000. Bessemer Group Inc. lifted its holdings in Polaris by 174.1% in the first 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. Finally, First United Bank & Trust acquired a new stake in Polaris in the fourth quarter valued at $40,000. 88.06% of the stock is currently owned by hedge funds and other 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.