Polaris (NYSE:PII) Hits New 1-Year Low – Here’s What Happened

Polaris Inc. (NYSE:PII) reached a new 52-week low during trading on Thursday . The company traded as low as $58.05 and last traded at $58.18, with a volume of 1205601 shares traded. The stock had previously closed at $60.79.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada cut their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. DA Davidson reduced their price target on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 24th. KeyCorp lowered their price objective on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird cut their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.09.

Polaris Price Performance

The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 6.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The company has a 50-day simple moving average of $69.44 and a two-hundred day simple moving average of $76.74.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company posted $2.71 earnings per share. The business’s revenue was down 23.4% compared to the same quarter last year. As a group, equities research analysts forecast that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, December 2nd. Polaris’s payout ratio is currently 73.74%.

Institutional Trading of Polaris

Several institutional investors and hedge funds have recently bought and sold shares of PII. Kiltearn Partners LLP raised its position in shares of Polaris by 147.9% in the third quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock valued at $12,877,000 after purchasing an additional 92,300 shares during the period. FMR LLC grew its stake in Polaris by 22.0% in the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after buying an additional 24,103 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Polaris by 545.1% in the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock valued at $2,231,000 after acquiring an additional 22,648 shares during the period. Victory Capital Management Inc. raised its holdings in Polaris by 167.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock valued at $3,643,000 after acquiring an additional 27,375 shares during the period. Finally, Benjamin Edwards Inc. lifted its position in Polaris by 8,867.5% during the third quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock worth $5,322,000 after acquiring an additional 63,225 shares during the last quarter. Institutional investors 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.