DA Davidson Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price objective cut by analysts at DA Davidson from $84.00 to $69.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 24.38% from the stock’s previous close.

Several other research firms also recently issued reports on PII. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird decreased their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a report on Monday, December 30th. Finally, Truist Financial decreased their price objective on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.64.

Polaris Trading Down 3.1 %

Shares of PII traded down $1.77 during mid-day trading on Friday, reaching $55.48. The company had a trading volume of 962,513 shares, compared to its average volume of 1,027,416. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 4.84 and a beta of 1.53. The firm has a fifty day simple moving average of $62.17 and a 200-day simple moving average of $73.72. Polaris has a fifty-two week low of $52.77 and a fifty-two week high of $100.91. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $2.71 EPS. The business’s revenue was down 23.4% on a year-over-year basis. On average, sell-side analysts anticipate that Polaris will post 3.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC boosted its holdings in shares of Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after buying an additional 294 shares during the period. Blue Trust Inc. boosted its stake in Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the period. Quarry LP boosted its stake in Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the period. GAMMA Investing LLC boosted its stake in Polaris by 232.6% during the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after purchasing an additional 677 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Polaris during the 2nd quarter valued at about $57,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Company Profile

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.