Polaris (NYSE:PII) Shares Gap Down – Here’s What Happened

Polaris Inc. (NYSE:PII) gapped down prior to trading on Tuesday . The stock had previously closed at $56.52, but opened at $54.30. Polaris shares last traded at $51.87, with a volume of 645,484 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and issued a $60.00 target price (down previously from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Robert W. Baird reduced their price objective on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, December 30th. Roth Mkm reduced their price objective on Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank of Canada reduced their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. Finally, DA Davidson cut their target price on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Polaris has a consensus rating of “Hold” and a consensus target price of $73.45.

Polaris Price Performance

The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 6.05 and a beta of 1.53. The stock has a 50 day moving average price of $60.42 and a two-hundred day moving average price of $72.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 17.92% and a net margin of 2.64%. As a group, analysts expect that Polaris Inc. will post 3.22 EPS for the current year.

Institutional Trading of Polaris

A number of institutional investors have recently bought and sold shares of PII. Venturi Wealth Management LLC lifted 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 purchasing an additional 294 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Polaris by 2,431.3% in 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 last quarter. Quarry LP increased its position in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares during the period. GAMMA Investing LLC increased its position in Polaris by 232.6% in the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 shares during the period. Finally, National Bank of Canada FI increased its position in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after acquiring an additional 183 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.