DA Davidson Cuts Polaris (NYSE:PII) Price Target to $60.00

Polaris (NYSE:PII) had its price target decreased by equities research analysts at DA Davidson from $69.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price indicates a potential upside of 19.51% from the stock’s previous close.

A number of other equities analysts have also commented on the company. KeyCorp lowered Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price target on Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday. Robert W. Baird cut their target price on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, December 30th. Truist Financial lowered their price target on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Roth Mkm cut their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.82.

Polaris Stock Performance

PII traded up $1.43 during midday trading on Thursday, reaching $50.21. The company had a trading volume of 530,867 shares, compared to its average volume of 1,497,322. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. Polaris has a 1 year low of $48.44 and a 1 year high of $100.91. The business has a 50-day moving average of $59.80 and a two-hundred day moving average of $72.30. The company has a market cap of $2.80 billion, a P/E ratio of 14.02, a P/E/G ratio of 6.05 and a beta of 1.53.

Polaris (NYSE:PII) last released its earnings results 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 return on equity of 17.92% and a net margin of 2.64%. As a group, equities research analysts predict that Polaris will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of Polaris

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Polaris by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after buying an additional 171,366 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Polaris during the third quarter valued at approximately $12,670,000. Weiss Asset Management LP purchased a new position in Polaris during the third quarter valued at approximately $10,844,000. Kiltearn Partners LLP increased its holdings in Polaris by 147.9% during the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after buying an additional 92,300 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Polaris by 3.2% during the third quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock valued at $188,371,000 after buying an additional 69,844 shares during the period. Institutional investors 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.