Polaris (NYSE:PII) Sets New 12-Month Low – Here’s Why

Shares of Polaris Inc. (NYSE:PII) reached a new 52-week low during trading on Thursday . The stock traded as low as $39.29 and last traded at $42.66, with a volume of 230994 shares changing hands. The stock had previously closed at $42.56.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PII. DA Davidson lowered their price target on shares of Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Citigroup lowered shares of Polaris from a “neutral” rating to a “sell” rating and cut their price target for the stock from $49.00 to $33.00 in a report on Thursday. Robert W. Baird decreased their price objective on Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Monday. Finally, Roth Mkm dropped their target price on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.83.

Polaris Price Performance

The stock has a fifty day moving average of $47.77 and a 200 day moving average of $63.22. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 13.95 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating 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, analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.67 per share. This is an increase from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend was Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is currently 136.73%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Polaris in the fourth quarter valued at $21,776,000. State of Alaska Department of Revenue grew its stake in Polaris by 371.7% in the 4th quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock valued at $1,669,000 after acquiring an additional 22,835 shares during the period. Bank of New York Mellon Corp grew its stake in Polaris by 45.3% in the 4th quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after acquiring an additional 241,926 shares during the period. Angeles Wealth Management LLC purchased a new stake in Polaris in the 4th quarter worth $1,318,000. Finally, Aigen Investment Management LP acquired a new position in Polaris during the fourth quarter worth $839,000. 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.