Polaris (NYSE:PII) PT Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its price objective lowered by Truist Financial from $96.00 to $92.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages have also recently weighed in on PII. Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a research note on Monday, April 8th. Morgan Stanley upgraded Polaris from an equal weight rating to an overweight rating and upped their price objective for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. KeyCorp decreased their price objective on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research note on Friday, January 12th. Royal Bank of Canada upped their price objective on Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a research note on Wednesday, January 31st. Finally, DA Davidson restated a neutral rating and set a $80.00 price objective on shares of Polaris in a research note on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $100.27.

Polaris Price Performance

PII opened at $83.79 on Wednesday. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The business’s fifty day simple moving average is $92.56 and its 200-day simple moving average is $91.51. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.50 and a beta of 1.60.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the company earned $2.05 EPS. The business’s revenue was down 20.3% compared to the same quarter last year. On average, equities research analysts anticipate that Polaris will post 7.93 earnings per share for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.66 dividend. The ex-dividend date was Thursday, February 29th. This is a boost from Polaris’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a yield of 3.15%. Polaris’s dividend payout ratio (DPR) is 38.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Polaris by 12.7% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 8,715 shares of the company’s stock valued at $873,000 after purchasing an additional 983 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Polaris by 2.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,172 shares of the company’s stock valued at $1,419,000 after purchasing an additional 381 shares during the period. Zhang Financial LLC acquired a new position in shares of Polaris in the first quarter valued at about $200,000. Verity & Verity LLC acquired a new position in shares of Polaris in the first quarter valued at about $37,000. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Polaris by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock valued at $1,532,000 after purchasing an additional 400 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

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.