Polaris (NYSE:PII) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Polaris (NYSE:PII) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada cut their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their target price 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, July 24th. Roth Mkm cut their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Bank of America dropped their price objective on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Longbow Research reissued a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.09.

Polaris Trading Down 0.5 %

Shares of Polaris stock opened at $66.84 on Tuesday. Polaris has a 52-week low of $66.06 and a 52-week high of $100.91. The firm has a market capitalization of $3.73 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 7.05 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The company’s fifty day moving average price is $77.45 and its two-hundred day moving average price is $79.85.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business’s revenue was down 23.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.71 EPS. On average, analysts expect that Polaris will post 3.22 EPS for the current year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 3.95%. Polaris’s dividend payout ratio is currently 73.74%.

Institutional Investors Weigh In On Polaris

Several institutional investors have recently modified their holdings of PII. M&T Bank Corp lifted its holdings in Polaris by 10.9% in the third quarter. M&T Bank Corp now owns 3,141 shares of the company’s stock valued at $261,000 after buying an additional 309 shares during the period. Harvest Investment Advisors LLC lifted its stake in shares of Polaris by 11.3% in the 3rd quarter. Harvest Investment Advisors LLC now owns 18,301 shares of the company’s stock valued at $1,523,000 after purchasing an additional 1,865 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Polaris by 93.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,527 shares of the company’s stock worth $3,207,000 after purchasing an additional 18,619 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Polaris by 11.1% during the third quarter. Wellington Management Group LLP now owns 20,236 shares of the company’s stock worth $1,684,000 after purchasing an additional 2,019 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.