Polaris (NYSE:PII) Shares Up 4.9% – Here’s Why

Polaris Inc. (NYSE:PII)’s stock price traded up 4.9% during trading on Thursday . The stock traded as high as $43.26 and last traded at $43.24. 553,175 shares were traded during trading, a decline of 39% from the average session volume of 908,624 shares. The stock had previously closed at $41.23.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PII shares. Royal Bank of Canada dropped their price target on shares of Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 29th. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. UBS Group dropped their price target on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird decreased their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday, December 30th. Finally, DA Davidson reduced their target price on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and a consensus price target of $66.17.

Polaris Price Performance

The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The firm has a market cap of $2.52 billion, a PE ratio of 22.94, a PEG ratio of 13.95 and a beta of 1.50. The business has a fifty day moving average of $50.71 and a 200-day moving average of $66.21.

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

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.96%. This is a boost from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is currently 136.73%.

Hedge Funds Weigh In On Polaris

A number of large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its position in Polaris by 371.7% during the 4th quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock worth $1,669,000 after acquiring an additional 22,835 shares during the last quarter. Angeles Wealth Management LLC bought a new position in shares of Polaris during the fourth quarter valued at about $1,318,000. Caprock Group LLC grew its stake in shares of Polaris by 174.4% in the fourth quarter. Caprock Group LLC now owns 10,531 shares of the company’s stock worth $607,000 after purchasing an additional 6,693 shares during the last quarter. Hidden Cove Wealth Management LLC purchased a new position in Polaris during the 4th quarter valued at about $432,000. Finally, Kiltearn Partners LLP lifted its holdings in Polaris by 147.9% in the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after buying an additional 92,300 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

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.