StockNews.com Downgrades Polaris (NYSE:PII) to Hold

Polaris (NYSE:PII) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other brokerages also recently weighed in on PII. Truist Financial cut their target price on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. BMO Capital Markets cut their price objective on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, January 31st. Royal Bank of Canada decreased their target price on shares of Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. Bank of America initiated coverage on Polaris in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Citigroup decreased their price objective on Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Polaris currently has an average rating of “Hold” and an average price target of $100.27.

Polaris Price Performance

Shares of PII stock traded up $0.13 during trading hours on Thursday, hitting $83.92. The company’s stock had a trading volume of 604,140 shares, compared to its average volume of 842,588. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $91.61 and a 200-day moving average of $90.95. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 2.43 and a beta of 1.61.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. Polaris’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, equities research analysts anticipate that Polaris will post 8.01 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New England Capital Financial Advisors LLC acquired a new position in shares of Polaris during the first quarter worth about $25,000. Creekmur Asset Management LLC purchased a new stake in shares of Polaris during the 4th quarter valued at about $27,000. BKM Wealth Management LLC acquired a new position in Polaris during the 4th quarter worth approximately $31,000. Larson Financial Group LLC boosted its holdings in Polaris by 536.5% in the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock worth $42,000 after acquiring an additional 338 shares during the period. Finally, First United Bank & Trust acquired a new stake in Polaris in the fourth quarter valued at approximately $40,000. 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.