Citigroup Cuts Polaris (NYSE:PII) Price Target to $96.00

Polaris (NYSE:PII) had its target price trimmed by Citigroup from $100.00 to $96.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on the company. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a report on Monday, April 8th. KeyCorp cut their price objective on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a report on Friday, January 12th. Robert W. Baird cut their price objective on Polaris from $110.00 to $100.00 and set an outperform rating for the company in a report on Wednesday. Royal Bank of Canada cut their price objective on Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a report on Wednesday. Finally, DA Davidson reissued a neutral rating and issued a $80.00 price objective on shares of Polaris in a report on Tuesday, March 5th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $100.27.

Polaris Trading Up 0.6 %

NYSE:PII opened at $83.81 on Wednesday. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average price of $92.40 and a two-hundred day moving average price of $91.41. The company has a market cap of $4.74 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share 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 firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The business’s revenue was down 20.3% on a year-over-year basis. As a group, analysts expect that Polaris will post 7.94 EPS for the current fiscal year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Investors Weigh In On Polaris

A number of hedge funds and other institutional investors have recently modified their holdings of PII. Confluence Investment Management LLC acquired a new stake in shares of Polaris during the first quarter worth $108,890,000. Verity & Verity LLC acquired a new stake in shares of Polaris during the first quarter worth $37,000. Qube Research & Technologies Ltd lifted its holdings in shares of Polaris by 276.5% during the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock worth $37,845,000 after buying an additional 266,887 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Polaris by 151.9% during the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after buying an additional 255,777 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Polaris by 8.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after buying an additional 202,794 shares in the last quarter. Institutional investors and hedge funds 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.