Polaris (NYSE:PII) Stock Price Down 7.4% After Analyst Downgrade

Polaris Inc. (NYSE:PII) shares traded down 7.4% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $67.00 to $48.00. UBS Group currently has a neutral rating on the stock. Polaris traded as low as $43.93 and last traded at $44.19. 581,547 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,634,942 shares. The stock had previously closed at $47.70.

A number of other research analysts have also issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. DA Davidson decreased their price objective on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley restated an “equal weight” rating and issued a $60.00 target price (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird cut their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.17.

Institutional Investors Weigh In On Polaris

A number of institutional investors have recently added to or reduced their stakes in PII. Venturi Wealth Management LLC grew its stake in Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after buying an additional 294 shares in the last quarter. Quarry LP lifted its position in Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the last quarter. Blue Trust Inc. grew its position in Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares in the last quarter. GAMMA Investing LLC lifted its position in Polaris by 232.6% in the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after buying an additional 677 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake 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 valued at $92,000 after purchasing an additional 183 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

Polaris Stock Performance

The company has a market cap of $2.44 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 14.51 and a beta of 1.50. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. The business has a 50 day moving average price of $59.03 and a two-hundred day moving average price of $71.72.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. On average, sell-side analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is 134.69%.

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.